Inclusive macroeconomic reforms driving strong gains across key indicators, says Central Bank Governor

Addis Ababa, June 27, 2026 (FMC) — Mr. Mamo Mihretu, Governor of the National Bank of Ethiopia (NBE), announced that the country’s inclusive macroeconomic reform programs are actively driving significant improvements across multiple key economic indicators.

Speaking at a parliament briefing on the reforms’ progress, Governor Mamo emphasized their critical role in fostering sustainable economic growth and reinforcing macroeconomic stability.

He explained that the reforms, designed to enhance revenue generation, restructure national debt, boost foreign exchange inflows, and strengthen the financial sector, have already begun producing encouraging results.

Governor Mamo highlighted the effective implementation of the reform framework, which has led to substantial improvements in foreign trade, foreign exchange reserves, and inflation control.

He also cited a recent International Monetary Fund (IMF) report confirming that Ethiopia’s macroeconomic reform program is exceeding expectations.

To maintain this positive trajectory, the Governor stated, “The government will continue to enforce prudent monetary and fiscal policies. Furthermore, efforts will focus on increasing productivity, adding value to products, and enhancing the trade system.”

Since the reforms commenced, inflation has steadily declined, with food inflation falling below 12 percent. Governor Mamo reaffirmed the government’s target to reduce overall inflation to single digits by the end of next year.

He further revealed that foreign exchange inflows have risen considerably, alongside a notable increase in export performance. Prior to the foreign exchange reforms, Ethiopia’s annual export earnings were $3.8 billion. By year-end, exports are projected to reach $8 billion.

The Governor also underscored that these reforms have attracted significant investment, with ongoing efforts to consolidate and expand these achievements, according to a report from ENA.

He emphasized that Ethiopia’s economic progress is driven by comprehensive fiscal and monetary reforms, legal reforms, and the adoption of a market-determined exchange rate.