BY GEORGE F. TESFA Democracy is a controversial topic, especially for advocates of free market capitalism and the West in general, and rightfully so. What is democratic capitalism? It is a political, economic and social ideology that combines a democratic political system with a free market economy, a system with many opposition political parties and […]
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Criticizing Eritrea for absence of free market economy is like tying a boxer’s hand behind his back, throwing him into the ring, and blaming him for losing. By George F Tesfa, Although each of these countries has a unique path of development from their founding, the political ideologies of their founding fathers are similar, to […]
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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 Horn Affairs, THE total outstanding external debt surged from 5.6 Billion USD in 2009/10 to 14 Billion USD in 2013/14, according to the data Horn Affairs obtained from the Ministry of Finance and Economic Development. More than half of the amount is directly owed by Ministry of Finance, while the rest belongs to public enterprises. […]
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, […]
Continue ReadingBy TesfaNews, Following its recent determination to introduce a far-fetched reform in the country’s financial policies, the Eritrean government further announced that it will soon undertake an aggressive privatization process for most of the government owned industrial enterprises. Minister of Trade and Industry, Mr. Estifanos Habte, disclosed that the privatization process would proceed on the basis of […]
Continue ReadingBy Berhane Woldu, Eritrean Investment Conference was held in Asmara, Eritrea at the Asmara Palace Hotel for two days and development sites excursion to Central and Gash Barka regions on the third day. There were investors from different parts of the world, the Americas, Asia, Australia, Europe, Middle East and 22 countries from Africa. The […]
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