Source: Xinhua| 2017-10-19 18:28:17|Editor: Yang YiVideo Player CloseADDIS ABABA, Oct. 19 (Xinhua) -- The Ethiopian government on Thursday warned traders who are attempting to exploit the public by sabotaging the recently effective currency devaluation to increase imported products' price. According to the Ethiopian Trade Practice and Consumers Protection Authority, some traders have attempted to hide their products, particularly imported goods, so as to increase the products' price in line with the present rate of the Ethiopian birr (ETB). The move was mainly designed to attain the east country's target to increase its earnings from the export sector during the recently commenced Ethiopian 2017-2018 fiscal year. However, as the value of the ETB dropped by 15 percent, the value of imported goods, mainly electronics and other technology-related products, is expected to increase. The authority also warned that it will take legal actions on wrongdoers for their actions on the matter.

Source: Ethiopian News October 19, 2017 10:30 UTC