(Oct 19, 2012, All Africa)--Prime Minister Haile Mariam Dessalegn stated
on Tuesday while responding to questions raised by the Members of the
House of Peoples' Representatives that his government is making every
effort possible to address inflation. Despite various efforts made to
control it inflation has been biting hard.
The good news though is that over the past few years, thanks to the various measures taken by the government, inflation rate has gone down to 19 per cent from 40 per cent. Yet at the present rate of inflation it has become evident that many low income citizens are struggling to get ends met. Although it may be caused by different factors, when it occurs, inflation is always a test to all governments of both poor and industrialized nations.
Prime Minister Haile-Mariam's administration like that of his predecessor's, has given prior attention to tackle the problem. And that is an absolutely right decision. Various measures have been taken at various times to control the galloping inflation. Controlling the influx of money into the economy, putting price caps on basic consumer goods, importing basic food items and stabilizing the market are some of such measures put in place so far.
As the statistics suggest on the current status of inflation such measures have served the intended purposes that inflation is going down. Of course such measures need to go further apart from stabilizing the market situation where it is. Prices need to go further down at acceptable levels.
In the government's ongoing efforts, to further reduce the rate of inflation to a more acceptable level, it is crucial that the government set out clear strategies and make the public aware of them. The role of the public in implementing such strategies will also be vitally important. The public at large can be part of the solution. Hence as citizens familiarize themselves with the strategies ahead it becomes easier for them to contribute their clear shares in tackling the situation.
As the Premier indicated increasing agricultural production and productivity is one of the most crucial steps to be taken to control inflation. Meanwhile, urgent solutions are obviously required to ease the existing situation. The issue of addressing inflation cannot be left to the government alone. Other stakeholders too mainly those engaged in wholesale and retail businesses have their own shares to contribute.
Source: All Africa
The good news though is that over the past few years, thanks to the various measures taken by the government, inflation rate has gone down to 19 per cent from 40 per cent. Yet at the present rate of inflation it has become evident that many low income citizens are struggling to get ends met. Although it may be caused by different factors, when it occurs, inflation is always a test to all governments of both poor and industrialized nations.
Prime Minister Haile-Mariam's administration like that of his predecessor's, has given prior attention to tackle the problem. And that is an absolutely right decision. Various measures have been taken at various times to control the galloping inflation. Controlling the influx of money into the economy, putting price caps on basic consumer goods, importing basic food items and stabilizing the market are some of such measures put in place so far.
As the statistics suggest on the current status of inflation such measures have served the intended purposes that inflation is going down. Of course such measures need to go further apart from stabilizing the market situation where it is. Prices need to go further down at acceptable levels.
In the government's ongoing efforts, to further reduce the rate of inflation to a more acceptable level, it is crucial that the government set out clear strategies and make the public aware of them. The role of the public in implementing such strategies will also be vitally important. The public at large can be part of the solution. Hence as citizens familiarize themselves with the strategies ahead it becomes easier for them to contribute their clear shares in tackling the situation.
As the Premier indicated increasing agricultural production and productivity is one of the most crucial steps to be taken to control inflation. Meanwhile, urgent solutions are obviously required to ease the existing situation. The issue of addressing inflation cannot be left to the government alone. Other stakeholders too mainly those engaged in wholesale and retail businesses have their own shares to contribute.
Source: All Africa
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