Illicit Gold and khat trade messes Ethiopia’s economy -PM Abiy Ahmed

Prime Minister Abiy Ahmed responded to the questions from the House of Representatives.

Prime Minister said that illegal business activities are affecting the country’s foreign exchange to a great extent.

He also mentioned that the production of gold and khat is going out through smuggling this year.

The Prime Minister said that a year ago, 20 quintals of gold were sent from Asosa to the central market, but this year only 3 quintals were sent, which is an indication of the expansion of gold smuggling business.

He added that even though tantalum is produced at a high level of profit, more is illegally sold to neighboring countries than what is legally exported and earns foreign income.

“In order to prevent and control this high level of smuggling, we are working to stop and control the problem by deploying security forces in areas where natural resources are found”, he added.

Meanwhile, the prime minister added that Ethiopia has paid more than 1.5 billion dollars in debt in the last two years.

The Prime Minister said that the lack of foreign currency is harming Ethiopia’s economy and the country’s peace situation is gradually improving and this will stimulate the economy.


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