The comprehensive macroeconomic reforms implemented by the Ethiopian government since July have significantly reduced illegal trade, Trade Minister Kasahun Gofe stated at the third National Anti-Illicit Trade Summit, currently underway in Addis Ababa.
The minister emphasized the harmful effects of illicit trade on the economy and highlighted that tax evasion, hoarding, and other illegal activities have undermined Ethiopia’s trade system.
Contraband trade drains public resources, the minister noted. However, Kasahun Gofe stressed that government policies have reduced illegal trade, leading to action against over 108,000 traders.
Within five months of reforms, food inflation dropped from 29.2% to below 20%, and livestock exports rose from $18 million to $20 million. The minister also noted 15.5 billion birr worth of contraband was seized in 2016.