Ethiopia 15.06.24

• Nearly 13 million people are in need of agricultural assistance in Ethiopia. The Food and Agriculture Organisation of the UN has published a report identifying the impact of conflict and the drought that has hit the nation. https://www.aa.com.tr/en/africa/nearly-13m-in-dire-need-of-agricultural-assistance-in-ethiopia-un/3244074 

• Another report has been published, concluding that Ethiopian forces committed genocidal acts during the Tigray war. The war lasted two years, from 2020 to 2022. The report's author has called for Ethiopia to be brought before the International Court of Justice. https://www.tamilguardian.com/content/report-finds-strong-evidence-ethiopian-government-and-allied-forces-committed-acts-genocide 

• Ethiopia and the African Development Banks have signed an agreement to lend the county $43mn to empower agricultural micro, small and medium enterprises within the country. https://apanews.net/afdb-provides-43m-grant-to-ethiopia/ 

• The Council of Ministers have approved a $17.5bn national budget for the next fiscal year, starting on 8th June 2024. https://apanews.net/ethiopian-cabinet-approves-17-5b-for-next-budget-year/ 

• The finance minister has announced that Ethiopia's economy is forecast to grow 8.4% next fiscal year. https://www.zawya.com/en/economy/africa/ethiopias-economy-forecast-to-grow-84-next-fiscal-year-finance-minister-ge4lknuo 

• The budget deficit is estimated at 2.1% of GDP next fiscal year. https://www.marketscreener.com/news/latest/Ethiopia-sees-budget-deficit-at-2-1-of-GDP-next-fiscal-year-46949452/ 

• Following the worst drought the country has seen in 50 years, Ethiopia is now being hit with floods. https://au.news.yahoo.com/worst-drought-50-years-ethiopia-140655662.html