The 20th Economy Conference and National Bank primary focus

 

The National Bank announced that it is to stabilize inflation in the short term; The 20th international conference organized by the Ethiopian Economic Association focusing on the economy of Ethiopia has been held with the presence of the National Bank of Ethiopia President Mamo Mehretu

The National Bank of Ethiopia announced that the first of the three issues it is working on is to check inflation in the short term. The Governor of the National Bank of Ethiopia, Mamo Mehretu, who attended the conference explained the issues that the central bank is paying special attention to and is working on.

 

The main focus of the National Bank on the on going Inflation

 

One of the missions that the Association can carry out in coordination with existing institutions is to stabilize inflation. An issue that the National Bank is focusing on is “stabilizing inflation,” said Mr. Mamo. The Governor also explained that the severe damage caused by high inflation on economic and social issues is well known.

Apart from the effects on those with fixed incomes, it also affects the most vulnerable in society and distorts economic decisions to a great extent. He pointed out that allowing inflation to continue is exposing oneself to violence. He said that the priority in the new fiscal year is to change this situation.

He pointed out that due to the constantly changing world situation, policymakers in different countries are facing many challenges, and the price inflation in Ethiopia, like other countries, has increased significantly due to the increase in the price of fuel, food, and fertilizer and apart from one of the ways to work quickly to stabilize inflation, the work that has been started to make the country’s financial sector stable, modern and inclusive will be strengthened.

He said that aside from the one way in which the National Bank works quickly to stabilize inflation, it will strengthen the work that has been started to make the country’s financial sector stable, modern, and inclusive.

He also added that by focusing on the operation of the supervisory institution itself, efforts are being made to make it an institution that works transparently, works together, and shares knowledge and experiences.

 

At the two-day conference organized by the Ethiopian Economics Association, there was a discussion on the results of studies done by various researchers, especially on the opening day, economists shared their views on the topic of “Ethiopian Economic Policy Ideas, Content, Benefits and Implementation”. Professor), said that the idea should be looked at, especially by economists, not based on international experience, but by emphasizing that their society has correctly explored the issue.

The former President of the Ethiopian Economics Association and current Minister of Education Berhanu Nega (Professor) who gave a presentation at the conference on “Ethiopian Economic Policy Ideas”, said that the idea, especially the economists, should not be based on international experience independently, but they should emphasize that they have correctly explored the issues that their society has seen. They did it with his permission.

On the other hand, the veteran professional association has given recognition on the platform to those who have contributed significantly to the teaching and research of economics education for many years, one of whom was Befekadu  Degfe (Dr.).

Following the recognition, (Dr.) Befekadu gave a precise speech saying, “Let’s buy knowledge, let’s lead with knowledge, the biggest and last thing is the country. If we don’t have our country it will not reach anywhere. Let’s make our  country the center of  our goal, let the government do work that benefits the country, and let us teach and show what that work is.”

“We are the ones who know what to do and how to do it. We are the people here who can end Ethiopia’s problems,” said Dr. Befekadu.