Eritrea

Eritrea Currency: Eritrean Nakfa (ERN) 1 Eritrean Nakfa = 2.79 Philippine Pesos down-to-earth Domestic Product: $ 2.61 Billion Gross National Product: $ 3.16 Billion study Exports: Livestock, sorghum, textiles, food, small manufactures. Economic Issues Food shortage Food purchases are a serious drain on Eritreas limited foreign give-and-take reserves. Eritrea requires 600,000 to hotshot million metric tons of cereal grains annually. In a good year, Eritrea is able to meet nearly one fourth of its food needs; imports from Ethiopia fill much of the continue of the shortfall. The heavy rains this year destroyed much of the harvests in twain countries, however, and Eritrea will meet only about 20 percentage of its food needs this year. To make up for sharply bring down imports from Ethiopia, Eritrea has purchased wheat and sorghum from the U.S., Europe and other sources. Eritrea recently sign a USD 5 million Title I accordance to purchase 30 potassium metric tons of barmy white wheat from the U.S. they plan to sign another USD 5 million agreement and receive another 25 thousand metric tons of sorghum under Title III. a couple of(prenominal) Jobs Creating jobs and developing opportunities for Eritreas youth are serious challenges. Nearly 80 pct of the population is engaged in agriculture.

Diversifying the workforce must(prenominal) therefore be a priority. This is especially difficult in the current environment, with no export growth, few new firms macrocosm created, and downsizing by the organization and most companies. The g all overnment, for instance, has taken transparent measures to stem the increasing annual budget deficits. In 1995, presidential term expenditures amounted to 338.3 million dollars, a 32 pct increase over the previous year, while total revenues amounted to 213.5 million dollars, only a 22 pct increase over the previous year. To come forth the staggering budget deficits, the GSE downsized the government. At the end of 1996 and early 1997, the government laid off a large number of employees. increase the availability of jobs... If you want to get a full essay, hostelry it on our website: Ordercustompaper.com

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