- Direct Budget Support for government last fiscal year (ended on June 30) was only 35% of the targeted 30.9b Br. The low direct budget support resulted from sanctions by the West on money going direct into the government.
- Defence spending has reached 225% of target
- Overall planned deficit is at 114b Br.
- 45% of this deficit is still being filled by printing money. i.e. printing 50b Br new cash.
An expert who shared the figures with UMD Media commented “The numbers are stunning. It all shows how desperate they are economically and how stuck they are.”
In the mean time the Br to USD exchange rate has shown a steep increase during the now one year old war.
Individual entities are reporting big losses attributing to the war. Here Amhara Credit and Saving Institution is reporting a loss of 6b Br thus far.
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