Quarterly Bulletin Third Quarter 2016/17 Fiscal Year Series Volume 33 No. 3 Addis Ababa 2017

140 Pages·2017·7.4 MB·English

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Fiscal Year Series
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NATIONAL BANK OF ETHIOPIA
Quarterly Bulletin
Volume 33, No. 3
Third Quarter 2016/17
Fiscal Year Series
Addis Ababa 2017

National Bank of Ethiopia Quarterly Bulletin
Table of Contents Pages
Ethiopia: Macroeconomic and Social Indicators-------------------------------------------------------------------i
I. Overview------------------------------------------------------------------------------------------------------------1
1.1: International Economic Developments -------------------------------------------------------------------1
1.2: Macroeconomic Developments in Ethiopia--------------------------------------------------------------1
II. Energy Production and Processing------------------------------------------------------------------------4
2.1: Import of Petroleum Products---------------------------------------------------------------------------------4
2.2: Electric Power Generation--------------------------------------------------------------------------------------8
III. Quarterly Price Developments----------------------------------------------------------------------------10
3.1: Developments in National CPI-------------------------------------------------------------------------------10
3.2: Developments in Regional CPI------------------------------------------------------------------------------12
IV. Monetary Developments-----------------------------------------------------------------------------------14
4.1: Money Supply and Credit---------------------------------------------------------------------------------------14
4.2: Developments in Reserve Money and Monetary Ratio-------------------------------------------------17
4.3: Interest Rate Developments -----------------------------------------------------------------------------------18
4.4: Developments in the Financial Sector-----------------------------------------------------------------------20
4.5: Activities of the Banking System------------------------------------------------------------------------------22
4.5.1: Resource Mobilization-----------------------------------------------------------------------------------22
4.5.1.1: Deposit Mobilization --------------------------------------------------------------------------24
4.5.1.2: Collection of Loans-----------------------------------------------------------------------------25
4.5.1.3: Borrowing-----------------------------------------------------------------------------------------25
4.5.2: Disbursement of Fresh Loans---------------------------------------------------------------------------25
4.5.3: Outstanding Credit---------------------------------------------------------------------------------------26
4.6: Financial Activities of NBE--------------------------------------------------------------------------------------28
4.7: Developments in Financial Markets ----------------------------------------------------------------------28
4.7.1: Treasury Bills Market-------------------------------------------------------------------------------------28
4.7.2: Inter-bank Money Market ------------------------------------------------------------------------------30
4.7.3: Corporate Bond Market----------------------------------------------------------------------------------30
V. External Sector Developments ---------------------------------------------------------------------------31
5.1: Balance of Payments -------------------------------------------------------------------------------31
5.2: Balance of Trade--------------------------------------------------------------------------------------33
National Bank of Ethiopia Quarterly Bulletin
5.2.1: Exports------------------------------------------------------------------------------------------34
5.2.2: Imports-------------------------------------------------------------------------------------------38
5.2.3: Direction of Trade---------------------------------------------------------------------------40
5.2.3.1: Exports of goods ---------------------------------------------------------------40
5.2.3.2: Imports of goods---------------------------------------------------------------41
5.3: Services and Transfers ----------------------------------------------------------------------------43
5.4: Current Account-------------------------------------------------------------------------------------45
5.5: Capital Account------------------------------------------------------------------------------------------45
5.6: Changes in Reserve Position ----------------------------------------------------------------------45
5.7: Developments in Foreign Exchange Market-------------------------------------------45
5.7.1: Exchange Rate Movements -------------------------------------------------------45
5.7.2: Movements in the Real Effective Exchange Rate ----------------------------------51
5.7.3: Volume of Transactions------------------------------------------------------------51
VI. Federal Government Finance----------------------------------------------------------------------------53
6.1: Revenue and Grants-------------------------------------------------------------------------------------54
6.2: Expenditure------------------------------------------------------------------------------------------------55
6.3: Deficit Financing----------------------------------------------------------------------------------------56
VII. Developments in Investment--------------------------------------------------------------------------58
VIII. International Economic Developments ---------------------------------------------------------61
8.1: Overview of the World Economy -------------------------------------------------------------------61
8.2: Inflation Developments--------------------------------------------------------------------------------61
8.3: Commodity Price---------------------------------------------------------------------------------------61
8.4: Exchange Rate Developments--------------------------------------------------------------------62
8.5: Impact of Global Economic Development on Ethiopian Economy-------------------62
STATISTICAL TABLES--------------------------------------------------------------------------------------------63
2015/16 (2008) 1.14 million NA NA 91.20 19.88 12.23 39.75 51.98 75.00 60.2-64.2 30.3:1000 7.2:1000 2.31 3.94chil:W 2,850.00 14,045.00 1,999.00 62.4:1000 61.00 52.50 63.10 46:1 26.5:1
2014/15 (2007) 1.14 million NA NA 121.50 89.10 19.50 11.60 38.70 50.40 75.00 60.2-64.2 30.3:1000 7.2:1000 2.31 3.94chil:W NA 17,160.00 84.54 62.4:1000 84.00 91.00 82.00 46:1 26.4:1

2013/14 (2006) 1.14 million NA NA 118.61 87.00 19.00 11.05 37.75 48.80 75.00 60.2-64.2 30.3:1000 7.2:1000 2.31 3.94chil:W NA 20,970.00 1995:1 62.4:1000 76.70 84.20 75.50 47:1 27.8:1
2012/13 (2005) 1.14 million NA NA 115.76 84.80 18.60 10.49 36.76 47.26 75.00 60.2-64.2 30.3:1000 7.2:1000 2.31 3.94chil:W 2516:1 32132:1 1884:1 62.2:1000 68.50 81.30 66.50 49:1 28.7:1
2011/12 (2004) 1.14 million 45.00 NA 112.94 82.70 16.30 9.95 35.79 45.74 93.00 53.4-55.4 33.6:1000 9.2:1,000 2.40 4.8child:W NA 28847:1 2299:1 59:1000 58.30 78.70 55.20 50:1 29:1
2010/11 (2003) 1.14 million 45.00 NA 110.14 80.70 16.10 9.43 34.83 44.26 93.00 58.4-60.4 33.6:1000 9.2:1,000 2.40 4.8child:W NA 53642:1 2762:1 73:1000 73.30 92.50 71.30 51:1 31:1
2009/10 (2002) 1.14million 45.00 NA 107.40 78.80 16.30 8.92 33.89 42.82 93.00 53.4-55.4 35.7:1000 NA 2.60 5 child:W 7815:1 56013:1 3012:1 77:1,000 68.50 91.50 65.80 51:1 36:1
2008/09 (2001) 1.14million 45.0 3.0 104.7 76.8 16.14 8.4 33.0 41.4 93 53.4-55.4 35.7:1000 NA 2.7 5.4child:W 5082:1 36175:1 3870:1 77:1,000 66.2 88.6 61.5 54:1 41:1
2007/08 (2000) 1.14million 45.0 3.0 102.1 74.90 17 8.0 31.3 39.3 93 53.4-55.4 35.7:1,000 10.8:1,000 2.7 5.4child:W 5698:1 36374:1 4524:1 77:1,000 59.5 86.2 53.9 57:1 43:1
2006/07 (1999) 1.14million 45.0 3.0 99.6 72.40 16.45 7.6 32.9 40.6 84.3 55.6-57.9 36.9:1,000 10.8:1,000 2.7 5.4child:W 5293:1 49888:1 4601:1 80:1,000 52.5 82.0 46.4 59:1 48:1
2005/06 (1998) 1.14million 45.0 3.0 101.2 70.00 16.21 7.6 33.2 40.7 84.3 55.6-57.9 36.9:1,000 10.8:1,000 2.7 5.4child:W 5028:1 35493:1 4206:1 80:1,000 47.3 NA 42.2 62:1 57:1
ORS 2004/05 (1997) 1.14million 45.0 3.0 99.7 68.30 15.97 6.95 32.6 39.6 84.7 53.42-55.42 35.7:1,000 12.6:1000 2.7 5.4child:W 5273.5:1 29777:1 3956.8:1 80:1,000 45.6 82 38.4 66:1 51:1
T
DICA 2003/04 (1996) 1.14million 45.0 3.0 95.8 66.50 15.8 7 31.4 38.4 85.2 53-55 39.9:1,000 12.6:1000 2.7 5.8child:W 5721.4:1 36954:1 4621:1 97:1,003 35.9 N.A 25.2 65:1 48:1
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CIAL I 2002/03 (1995) 1.14million 45.0 3.0 93.2 64.80 15.5 6.5 30.54 37.04 86.6 53.4-55.4 39.9:1,000 12.6:1000 2.7 5.8child:W 6479.2:1 34005.1 4879:1 97:1,002 NA NA NA 64:1 45:1
ND SO 2001/02 (1994) 1.14 million 45.0 3.0 90.7 63.20 15.33 6.4 29.8 36.2 86.0 53.4-55.4 39.9:1,000 12.6:1,000 2.7 5.8child:W 5740.4:1 35604:1 5236.0:1 97:1,001 28.4 75.7 19.9 63:1 54:1
MIC A 2000/01 (1993) 1.14 million 45.0 3.0 88.1 61.60 15.1 6.1 28.8 34.9 87.2 53.4-55.4 39.9:1,000 12.6:1,000 2.7 5.8child:W 6,086.4:1 47,836.0:1 8,461.0:1 97:1,000 27.90 91.70 17.10 61:1 52:1
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ETHIOPIA:MACROECO Indicators 1. Country Profile Land Area (total, In Sq.Km) Arable Land ( % of total area ) Irrigated Land ( % of total area ) Population Density ( person per sq.km )* 2. Social Indicators Population total, in millions (Mid-Year populati (o/w Urban Poulation, in %) Working Age Population ( In Millions ) Urban Rural Total Age Dependency Ratio Life Expectancy at Birth ( Male - Female ) Crude Birth Rate Crude Death Rate Natural Rate of Population Increase ( In % ) Total Fertility Rate People : Hospital Beds 1People : Physician 1People : Nurse Infant Mortality Rate Access to Safe Water ( In %) Country Level Urban Population Rural Population Student-Teacher Ratio Primary ( 1-8 ) Secondary ( 9-12 )

Third Quarter 2016/17 i
National Bank of Ethiopia Quarterly Bulletin
2015/16 (2008) 12.6:1 573:1 767.2:1 331:1 1,528,044.23 18.20 21.10 72,419.16 794.00 8,864.02 3.42 9.50 747,309.23 810,187.25 8.00 274.00 125.00 353.00 36.70 16.70 47.30 1,037,277.00 148,837.00 588,705.00 122,366.00
2014/15 (2007) 16.5:1 744.9:1 369:1 383:1 1,297,961.44 22.40 20.10 64,575.20 725.00 8,571.18 12.41 10.80 692,221.73 753,229.74 10.40 267.80 103.70 325.00 38.70 15.00 47.00 896,208.00 116,995.00 511,618.00 121,532.20
2013/14 (2006) 18.6:1 571:1 857:1 545:1 1,060,825.38 22.41 19.07 55,627.97 639.60 7,625.19 4.47 11.00 626,977.38 682,358.51 10.35 251.80 86.50 292.50 40.20 13.80 46.60 744,978.00 98,121.00 402,922.00 123,496.00
2012/13 (2005) 18.6:1 571:1 994:1 544:1 866,921.08 15.33 18.28 47,424.57 559.10 7,299.07 5.06 4.90 568,432.33 618,842.23 9.90 238.80 73.90 258.80 42.00 13.00 45.50 636,901.30 77,636.90 295,456.40 108,227.10
2011/12 (2004) 24.7:1 576:1 1033:1 654:1 747,326.50 45.09 17.30 43,314.20 523.50 6,947.54 6.06 33.54 517,026.50 559,621.60 8.70 222.90 59.60 237.40 43.10 11.46 45.90 541,536.30 62,044.50 277,243.70 102,887.00
2010/11 (2003) 29:1 590:1 1160:1 735:1 515,078.50 35.86 16.10 31,957.10 396.10 5,895.00 9.00 20.08 475,647.50 515,078.50 11.40 212.50 49.80 216.60 44.37 10.40 45.23 373,088.50 53,147.10 165,380.00 85,949.80
2009/10 (2002) NA 573:1 1270:1 788:1 379,135.00 14.18 12.89 29,413.11 373.26 5,776.60 9.69 1.70 418,946.95 455,196.02 10.57 195.00 41.99 185.10 46.13 10.17 43.70 309,132.00 34,801.00 102,403.00 52,168.00
2008/09 (2001) 34:1 619:1 1345:1 673:1 332,060.0 35.1 10.4200 31,867.6 415 5,266.1 6.1 24.2 378,907.4 404,437.0 10.0 181.2 37.3 163.9 47.3 10.1 42.6 268,002.0 31,544.0 82,560.0 35,233.0
2007/08 (2000) 25:1 657:1 1381:1 501:1 245,836.0 44.4 9.2400 26,605.6 355.2 4,962.8 7.1 30.3 344,331.9 371,716.7 11.2 170.3 33.9 144.1 48.8 10.1 41.0 197,461.0 25,782.0 60,156.0 28,317.0
2006/07 (1999) 27:1 677:1 1440:1 493:1 170,281.0 30.6 8.7943 19,362.7 267.4 4,634.2 7.8 17.2 309,686.8 335,519.0 11.8 158.5 30.6 124.1 50.5 10.2 39.3 130,118.0 19,123.0 41,227.0 21,854.2
2005/06 (1998) 20:1 654:1 1425:1 468:1 130,334.0 23.6 8.6810 15,013.7 214.5 4,300.5 8.1 11.6 277,013.3 301,032.7 11.5 144.8 28.4 107.6 51.5 10.4 38.0 102,537.0 17,016.0 35,952.0 18,205.4
2004/05 (1997) 21:1 690:1 1350:1 534:1 105,415.0 22.9 8.6518 12,184.2 178.4 3,976.7 8.9 9.9 248,354.8 271,605.2 12.6 130.5 25.9 94.6 51.9 10.6 37.5 81,445.0 13,971.0 27,409.0 16,076.9
2003/04 (1996) 22:1 724:1 1312:1 552:1 85,800.0 18.0 8.6300 9,942.1 149.5 3,652.6 10.7 3.9 220,477.2 242,897.6 11.7 115.0 23.7 84.2 51.6 10.9 37.5 60,866.0 11,973.0 24,902.0 12,913.6
2002/03 (1995) 25:1 701:1 1222:1 353:1 72,703.0 10.3 8.5800 8,473.5 130.8 3,300.5 (4.6) 12.8 197,331.5 213,870.3 (2.1) 98.3 21.4 79.4 49.4 11.0 39.6 56,765.0 10,422.0 17,669.0 9,779.0
2001/02 (1994) 17:1 674.0:1 1681.0:1 271.0:1 65,895.0 (2.2) 8.5400 7,716.0 122.1 3,458.8 (1.1) (3.6) 201,561.3 218,594.3 1.6 109.8 20.2 75.3 53.7 10.0 36.3 49,319.0 10,448.0 17,395.0 8,389.0
2000/01 (1993) 9:1 617.5:1 1,531.2:1 264.9:1 67,351.0 2.1 8.3300 8,085.4 131.3 3,495.7 5.5 (5.8) 198,320.9 215,332.6 7.4 111.9 18.6 72.9 56.4 9.5 36.3 47,981.0 10,543.0 15,870.7 8,146.0
Continued…. Indicators Technical & Vocational Student-School Ratio Primary ( 1-8 ) Secondary ( 9-12 ) Technical & Vocational 3. Macroeconomic Indicators 23.1 Real sector Development GDP at Current Market Price (In Mn. Birr) Nominal GDP Growth Rate (In %) Average Marginal Exchange Rate (Birr per USD) GDP at Current Market Price (IN Mn. USD) Nominal GDP per Capita (In USD) Real GDP per Capita ( In Birr ) Real GDP per Capita Growth Rate (In %) GDP Deflator (% change) Real GDP at constant basic price (In Mn. Birr) Real GDP at constant market price (In Mn. Birr) Real GDP Growth Rate (In %) Agriculture & Allied Activties(In Billion Birr) Industrial Sector (In Billion Birr) Service Sector(In Billion Birr) Agriculture & Allied Activties (% of GDP) Industrial Sector ( % of GDP ) Service Sector ( % of GDP ) Private Consumption Expenditure Government Consumption Expenditure Investment Exports
ii Third Quarter 2016/17
National Bank of Ethiopia Quarterly Bulletin
2015/16 (2008) 424,528.00 (302,163.00) 67.90 9.70 38.50 (19.80) 178,609.66 445,266.25 21,524.19 21,745.43 5.00 12.75 490,230.35 47,548.36 442,681.99 9.7 11.2 8.1 10.3 16.6 5.8 5,813.71 20,392.68 (14,578.97) (7,558.84)
2014/15 (2007) 393,189.00 (271,656.00) 69.00 9.00 39.40 (20.90) 154,706.34 371,328.91 37,570.95 18,250.35 5.00 11.88 393,421.73 30,735.25 362,686.48 7.7 7.4 7.9 7.6 12.2 4.4 6,057.81 19,838.72 (13,780.90) (7,391.39)

2013/14 (2006) 308,691.30 (185,195.30) 70.20 9.20 38.00 (17.50) 134,063.78 297,746.59 45,972.30 14,479.39 5.00 11.88 300,026.58 26,929.74 273,096.84 8.1 5.9 10.6 8.5 4.6 11.4 6,482.89 16,335.66 (9,852.77) (4,276.94)
2012/13 (2005) 251,300.60 (143,073.50) 73.50 9.00 34.10 (16.50) 114,745.69 235,313.59 45,648.53 11,708.82 5.00 11.88 233,404.32 21,965.52 211,438.80 13.5 12.6 14.8 12.6 13.1 11.9 5,943.90 13,870.90 (7,927.00) (2,819.50)
2011/12 (2004) 236,384.70 (133,498.00) 72.46 8.30 37.10 (17.86) 94,849.88 189,398.78 39,787.69 18,080.56 5.00 11.88 189,080.81 21,557.41 167,523.40 34.1 42.9 22.4 24.8 30.6 21.1 5,971.70 13,805.90 (7,834.30) (2,799.80)
2010/11 (2003) 162,486.80 (76,537.00) 72.43 10.32 32.11 (14.86) 76,171.00 145,376.97 55,534.68 20,495.20 5.00 11.88 135,553.87 28,651.65 106,902.22 18.1 15.7 21.8 19.4 14.8 23.5 5,343.10 10,161.20 (4,818.10) (210.60)

2009/10 (2002) 126,319.00 (74,151.00) 81.54 9.18 27.01 (19.56) 52,434.6 104,432.4 27,189.8 14,368.0 4.0 12.25 104,413.5 33,013.1 71,400.4 2.8 -5.4 18.2 10.1 4.1 16.0 4,050.40 9,858.50 (5,808.10) (1,193.90)

2008/09 (2001) 96,285.0 -61,052.0 80.7 9.5 24.9 -18.4 42,112.7 82,509.8 17,976.8 11,183.3 4.0 8-16.5 89,203.0 32,786.5 56,416.5 36.4 44.2 23.8 29.4 41.5 19.2 3399.2 9292.5 -5,893.3 (1636.2)

2007/08 (2000) 76,564.0 -48,247.0 80.3 10.5 24.5 -19.6 36,875.5 69,918.2 12,140.6 9,112.9 4 8-15 80772.6 34169.2 46603.4 25.3 34.9 12.5 20.8 32.1 12.7 3128 8313.1 -5,185.1 (1479.8)

2006/07 (1999) 55,088.7 -33,234.4 76.4 11.2 24.2 -19.5 29,773.4 56,860.3 13,927.3 2,592.5 4 7-14 61585.0 30290.2 31294.8 15.8 17.5 13.5 19.2 25.4 14.0 2545.4 6332.7 -3,787.3 (855.5)

2005/06 (1998) 48,092.4 -29,887.0 78.7 13.1 27.6 -22.9 23,811.9 46,377.4 12,109.6 2,120.9 3 7-14 49295.9 25266.4 24029.6 10.6 13.0 7.1 8.4 13.0 4.6 2156.89 5431.77 -3,274.9 (1547.4)

2004/05 (1997) 37,776.3 -21,699.4 77.3 13.3 26.0 -20.6 21,289.8 40,212.1 13,868.0 1,828.4 3 7-14 40305.8 21663.8 18642.0 6.1 7.4 4.4 7.2 5.7 7.6 1870.49 4352.72 -2,482.2 (1184.0)

2003/04 (1996) 27,366.8 -14,453.2 70.9 14.0 29.0 -16.8 19,065.9 34,655.9 11,766.9 1549.35 3 8.0-10.5 31138.781 19199.154 11939.627 7.3 11.5 2.2 5.6 8.6 3.0 1519.4 3267.9 -1,748.5 (495.8)

2002/03 (1995) 20,131.3 -10,352.3 78.1 14.3 24.3 -14.2 16,446.7 30,090.1 11,049.2 1,320.3 3 8.0-10.5 28,202.3 17,229.8 10,972.6 10.9 21.5 0.2 4.6 9.4 0.9 1139.6 2,346.7 -1,207.1 (160.0)

2001/02 (1994) 17,706.8 -9,317.8 74.8 15.9 26.4 -14.1 15,182.4 27,322.0 7,822.5 1,163.9 3 8.0-10.5 27,550.2 15,985.1 11,565.1 -10.6 -19.1 0.3 -5.5 -10.7 -0.8 982.7 2,073.1 -1,090.4 (361.0)

2000/01 (1993) 16,108.4 -7,962.4 71.2 15.7 23.6 -11.8 13,745.8 24,516.2 4,800.0 1,081.8 6 10.5-15.0 27,551.6 15,171.0 12,380.6 -0.3 -1.7 1.4 -1.4 -7.8 5.6 979.1 1,936.4 -957.3 (242.4)

Continued…. Indicators Imports Resource Balance Gross Private Consumption (% of GDP) Gross Government Cosumption (% of GDP) Gross Domestic Fixed Investment (% of GDP) Resource Balance (% of GDP) 3.2 Monetary Indictors Narrow Money Supply (M1) ( In Mn. Birr ) Broad Money Supply (M2) ( In Mn. Birr ) Net Foreign Assets ( In Mn. Birr ) Reserve Requirement ( CBs ) Interest Rate ( In % ) Minimum Deposit Rate Lending Rate Total Net Domestic Credit (in mn. Birr) Government Other Sectors 33.3 Inflation (CPI growth rate) Country Level -General inflation -Food inflation -Non-Food inflation (core inflation) Addis Ababa -General inflation -Food inflation -Non-Food inflation (core inflation) 3.4 External Trade(In Mn.USD) Export of goods & services Import of goods & services Net trade in goods & services Current account balance including official transfers
Third Quarter 2016/17 iii
National Bank of Ethiopia Quarterly Bulletin
2015/16 (2008) 6,245.35 (830.86) 243,671.56 230,657.28 189,717.18 12.40 272,930.09 131,902.78 141,027.31 - 17.9 111,768.8 (29,258.5) -1.9 (42,272.8) -2.8 21.1059 21.8004 161,575.24 161,475.24 1.44 57,252.56 - 57,252.56

2014/15 (2007) 7,381.22 (521.41) 199,639.11 186,618.69 165,312.47 13.37 230,521.18 113,375.50 117,145.68 - 17.8 86,263.6 (30,882.1) -2.4 (43,902.5) -3.5 20.0956 20.5659 136,536.80 110,593.30 1.43 41,704.80 - 41,704.80 _

2013/14 (2006) 4,134.57 (96.89) 158,076.52 146,172.77 133,118.26 12.71 185,471.78 78,086.90 107,384.88 - 17.7 79,989.6 (27,395.3) -2.6 (39,299.0) -3.8 19.0748 19.5771 113,527.98 95,314.98 1.60 32,286.86 - 32,286.86 _
2012/13 (2005) 3,226.40 (6.50) 137,192.00 124,077.00 107,010.30 12.50 153,929.00 62,745.80 91,182.90 - 18.1 74,447.0 (16,736.0) -2.0 (29,851.0) -3.5 18.1947 18.6426 109,184.60 109,184.60 1.89 26,044.90 3,436.00 22,608.90 _
2011/12 (2004) 2,119.80 (972.80) 115,658.50 102,863.65 85,739.86 11.47 124,416.72 51,445.45 72,971.26 - 16.6 64,213.0 (8,758.2) -1.2 (21,553.1) -2.9 17.2536 17.7305 77,194.80 74,694.80 1.87 20,011.86 2,383.50 17,628.40 _
2010/11 (2003) 2,535.50 1,384.30 85,611.00 69,120.00 58,981.00 11.45 93,831.00 40,535.00 53,297.00 - 18.2 45,076.5 (8,220.2) -1.6 (24,711.5) -4.8 16.1178 16.9081 55,760.03 52,316.03 1.13 10,706.62 900.00 9,896.62 _

2009/10 (2002) 1,996.20 316.60 66,237.44 53,861.34 43,315.36 11.42 71,334.79 32,012.38 39,322.41 0.0 18.8 34,225.1 -5,097.4 -1.3 -17473.5 -4.6 12.8909 13.5321 51,258.02 41,736.42 0.79 11,566.20 4,400.00 7,166.20 _

2008/09 (2001) 1647.9 513.5 40,421.9 31,924.0 23216.2 7.0 43875.2 26315.5 17,559.7 0.0 13.2 5,608.5 -3453.3 -1.0 -11951.1 -3.6 10.4205 11.3009 46,767.2 27,839.8 0.743 7783.1 1672 6111.1 _
2007/08 (2000) 1,046.9 -263.3 39,705.0 29,794.0 23801.0 9.7 46915.0 22,794.0 24,121.0 0.0 19.1 7,000.0 -7210.0 -2.9 -17,121.0 -7.0 9.244 9.610 59,888.5 47,716.5 0.677 8239.5 2739 5500.5 8.5

2006/07 (1999) 798.5 85.1 29,381.0 21,797.0 17354.0 10.2 35607.0 17,165.0 18,398.0 44.0 20.9 4,632.0 -6226.0 -3.7 -13,810.0 -8.1 8.794 9.030 78,922.0 63,315.0 0.530 11546 9135 2411 7.5

2005/06 (1998) 632.6 -327.1 23,225.0 19,493.0 14122.0 10.8 29325.0 15,234.0 14,042.0 50.0 22.5 4,259.0 -6,100.0 -4.7 -9,832.0 -7.5 8.681 8..69 60,603.5 47,793.5 0.038 11638.5 10612.3 1026.2 _
2004/05 (1997) 585.1 -101.4 20,147.0 15,582.0 12398.0 11.8 24803.0 13,235.0 11,343.0 224.0 23.5 6,652.7 -4,655.0 -4.4 -9,220.0 -8.7 8.652 8.660 56,896.2 41,065.0 0.095 6595 6295 300 _
2003/04 (1996) 375.6 138.9 17,918.0 13,917.0 10,906.0 12.7 20,520.0 11,977.0 8,271.0 272 23.9 1,940.0 -2,602.0 -3.0 -6,603.0 -7.7 8.635 8.630 61,143.2 51,645.0 0.5 12485 11418 1067 7.5

2002/03 (1995) 304.0 301.6 15,703.0 11,149.0 8243.0 11.3 20517.0 13,549.0 6,313.0 655 28.2 -2,400.0 4,815.0 6.6 -9,368.0 -12.9 8.581 8.600 38,633.6 29,668.0 1.3 9,100.0 8,094.3 1,005.7 7.5

2001/02 (1994) 509.0 300.2 12,833.0 10,409.0 7,926.0 12.0 17,651.0 10,550.0 6,130.0 971 26.8 -141.0 -4,818.0 -7.3 -7,242.0 -11.0 8.543 8.566 26,089.1 16,453.2 2.0 4,478.2 3,425.5 1,052.7 7.5

2000/01 (1993) 258.6 (70.5) 12,805.0 10,177.0 7440.0 11.0 15786.4 10,379.0 5,003.4 404.0 23.4 -202.0 -2,981.4 -4.4 -5,609.4 -8.3 8.42 8.46 18,205.5 9,322.9 2.8 3,372.5 1,924.0 1,448.5 8

Continued…. Indicators Capital account balance Overall balance of payments 43.5 Government Finance (In Mn .Birr) Total Revenue (including grants) Total Revenue (excluding grants) o/w Tax-Revenue Tax-Revenue as % of GDP Total Expenditures Current Expenditures Capital Expenditures Equity Contribution ( Sinking Fund ) Special Programs Total Expenditures as % of GDP Current Surplus/Deficit Overall Budget Deficit ( including grants ) Deficit as % of GDP Overall Budget Deficit ( excluding grants ) Deficit as % of GDP 3.6 Exchange Rate (Birr/ USD) 5 Inter-Bank Forex Market Rate * Period weighted Average * End period 3.7 Treasury Bill Market ( In Mn .Birr) T-Bills Demanded ( Total ) T-Bills Sold Average Weighted Yield (in %) T-Bills Outstanding by holder Banks Non-Banks 53.8 Inter Bank Money Market Rate
iv Third Quarter 2016/17