Ethiopian government exempts certain food taxes in response to inflation

According to the Ethiopian "Reporter" on September 4, the Minister of State of Ethiopia’s Ministry of Finance, Dr.
Yiyoub, stated at the regular meeting of the Prime Minister’s Office held on Friday that in order to curb inflation and increase the purchasing power of the people, the government decided to start from September 2021.
from May 3 to wheat , edible oil , sugar, rice and other food duty-free, while eliminating the pasta , pasta , eggs, VAT and other goods
.
Yiyoubu said that according to the study of the Ministry of Finance, the above-mentioned tax exemption measures will cause the government to lose billions of bills in tax revenue
.
However, tax exemption alone cannot effectively alleviate inflation.
For this reason, the government has purchased sugar, edible oil and other necessities, and will put 53 million liters of edible oil on the market at a reasonable price in the near future
.
In the future, the government will also introduce a new monetary policy to deal with inflation
.