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On 1 August, the government ordered the shutdown of dozens of businesses due to surging prices of basic commodities in Addis Ababa. Addis Ababa City Trade Bureau spokesperson Sewnet Ayele said, "the businesses were caught making unreasonable price increases, mostly on food items. The stocks were imported before the new exchange rate."
It is responsible for general financial management and economic policy of Ethiopia, in addition to the allocation of economic assistance. Formerly the Ministry of Finance, it has its origins in the ministerial system introduced by Emperor Menelik II in 1907.
This is a list of government-owned companies of Ethiopia. A Government-owned corporation is a legal entity that undertakes commercial activities on behalf of an owner government . There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms can be used interchangeably.
The government of Ethiopia (Amharic: የኢትዮጵያ መንግሥት, romanized: Ye-Ītyōṗṗyā mängəst) is the federal government of Ethiopia. It is structured in a framework of a federal parliamentary republic , whereby the prime minister is the head of government .
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The birr (Amharic: ብር) is the primary unit of currency in Ethiopia.It is subdivided into 100 santims.. In 1931, Emperor Haile Selassie formally requested that the international community use the name Ethiopia (as it had already been known internally for at least 1,600 years [2]) instead of the exonym Abyssinia, and the issuing Bank of Abyssinia also became the Bank of Ethiopia.
The economy of Ethiopia is a mixed and transition economy with a large public sector. The government of Ethiopia is in the process of privatizing many of the state-owned businesses and moving toward a market economy. [26] The banking, telecommunication and transportation sectors of the economy are dominated by government-owned companies. [27] [28]
Addis Ababa is a highly developed [9] and important cultural, artistic, financial and administrative center of Ethiopia. It is widely known as one of Africa's major capitals. [10] The founding history of Addis Ababa dates back to the late 19th century by Menelik II, Negus of Shewa, in 1886 after finding Mount Entoto unpleasant two years prior. [11]