The cost of living has reportedly doubled in the last 16 years.
The Prime Minister, Dr. Abiy Ahmed, has said that the rising cost of living is a major challenge for consumers.
He said the causes of inflation need to be identified in order to increase the cost of living in the country.
The House of Peoples’ Representatives is holding its 4th special session on the 6th year of its term.
Responding to this, Dr. Abiy said that the mismatch between supply and demand, the problems in the supply chain, the mismanagement of producers and other problems have contributed to the worsening of the cost of living for citizens.
So far, the government has been able to improve the cost of living by importing food-related goods, creating an adequate supply chain for consumers, and importing imports such as wheat, oil and baby food without paying additional taxes, he said.
Dr. Abiy says there is a lasting solution to the rising cost of living. Promoting Kuta Facility Development; Develop a green or tree planting habit; Increase agricultural production at a cost of only 9%; Support the sector with technology, finance, domestic production; He pointed out that it is possible to reduce the cost of living by expanding other options.
The lending process has increased by 20 percent over the previous year
Responding to a question from members of the House of Peoples’ Representatives, the Prime Minister said the country has grown by 20 percent this year.
As a result, more than 74 percent of the loan amount has been spent on private sectors, he said.
He said 25 percent of the loan is for government institutions.
This means that the current focus on the private sector is on the rise, said Prime Minister Dr. Abebe.
He said the loans have enabled us to complete many stalled projects.