By Nyende Magidu, ERITREA is aiming at creating a modern, private sector-led economy (Macro Policy 1994; National Indicative Development Plan 2014-2018). Attaining this objective is, however, compromised by an inadequately enabling investment and business environment, United Nations sanctions, and overall weak macroeconomic conditions. Real GDP growth is projected to increase from 2.0% in 2014 to 2.1% in 2015, double the […]
Continue ReadingBy Magidu Nyende and Luka Okumu, EVIDENCE-based assessment of fiscal policy in Eritrea is severely constrained by lack of transparency and availability of basic information on fiscal operations and management, including, of course, the budget. Estimates by various sources, including the IMF, however, indicate a continued improvement in the overall fiscal deficit (after grants) from […]
Continue ReadingBy TesfaNews, The government of Eritrea declares the adoption of proclamation No. 173/2013 aimed for the full liberalization of foreign currency in the country effective as of today. In line with the proposed fiscal policy reforms for this year, the new law pertains on the opening of foreign currency deposit accounts, domestic commercial transactions and/or contracts, […]
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