Latest news and articles about Ethiopian economy from NEX English
Ethiopia is experiencing a severe fuel crisis due to the ongoing war in the Middle East that began on February 28. The country relies entirely on oil imports from Gulf nations, and despite government calls for calm, the situation continues to worsen.
Ethiopia has started rationing fuel due to severe supply shortages, with daily diesel availability dropping from <strong>9.2 million liters</strong> to <strong>4.5 million liters</strong>. The government prioritizes public transport and vehicles carrying essential goods.
Ethiopia's prominent investment forum, known as 'Invest in Ethiopia', concluded on Friday with investment agreements exceeding <strong>$13 billion</strong>. This event highlights Ethiopia's strong commitment to attracting foreign investments and boosting its local economy.