Finance Minister Ahmed Shide announced to the House of People's Representatives that the government has completely ceased borrowing from the National Bank of Ethiopia to cover budget deficits. Providing a briefing on the 2019 federal draft budget, the Minister stated that this policy has been maintained for the past two years, playing a crucial role in curbing inflation and bringing it down to a single-digit rate.

The Minister highlighted that Ethiopia’s economy remains one of the fastest-growing in the world, with growth recorded at 6.8 percent between 2012 and 2016, 9.2 percent in 2017, and a projected 10.2 percent for the current year. Inflation, which peaked at 34.5 percent in August 2014, has been reduced to 9.4 percent as of March 2018.

Ahmed Shide attributed these economic gains to improved production and productivity, as well as the implementation of macroeconomic reforms. He noted that aligning the money supply with economic capacity and executing effective monetary policies have been key contributors to this stability. 

Additionally, the transition to a market-based foreign exchange system has addressed currency shortages and narrowed the disparity between legal and parallel market rates, leading to more modern and effective foreign exchange management.