Investment FREEFALL

The latest quarterly bulletin of the National Bank of Ethiopia (NBE) indicates that fresh investment projects and investment capital was almost nil in the first quarter of the current fiscal year that runs from July to September. The bulletin that shows the overall economic condition of the country states that in the first quarter of 2019/20 fiscal year that ended on September 30, only 9 investment projects with investment capital of 60.7 million birr became operational throughout the country. It added that both the number of investment projects and investment capital showed 98.3 and 99 percent decline compared to the same period last year. At the same period of last year the number of projects operational were 554 with 5.88 billion birr investment capital.