Officials emphasize swift measures to rein inflation

goEthio

BY YESUF ENDRIS

ADDIS ABABA– Government officials and economic advisors said that swift measures aiming at easing cost of living and the growing inflation should be swelled into the national economy.

Holding Addis Weg discussion at the Office of the Prime Minister yesterday, State Minister of Planning and Development Commission, Nemera Mamo (PhD) remarked that goods which are being imported now should be substituted with domestic productions.

Scarcity of domestic production has caused importing huge. This is directly linked with foreign currency and will cause chronic shortage of foreign currency. The industrial production is still much lesser than the demand “ So, we have to invest our potential energy to maximize agricultural production in particular,” he said.

According to him, the government has registered progresses in manufacturing and agricultural sectors though a lot remains to be done.

Another panelist during the discussion, Ethiopian Cooperative Commission Marketing Director Yihalem Eniyew stated that the market system in Ethiopia needs tight control as illegal traders and brokers have been causing unexpected price fluctuation and artificial price hike.

The chain among resellers has to be cut and the market system should not be monopolized  by illegal traders and individuals who would like to amass undeserved profits at the expense of the mass, she noted.

By the same token, Senior Macroeconomic Advisor Mellese Minale on his part said that the existing inflation is the sum product of global and local factors. The summer season wheat irrigation has been carried out and resulted in hopeful outcomes, he said.

The April 8/2022

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