Outstanding deposit of commercials banks surpasses 1.6 trillion birr, the macroeconomic committee announced. It is a 200 billion birr jump from last year.
The increase is witnessed at the time when banks struggle to mobilze deposit because of falling appetite to save money due to the inflationary pressure in the country.
Experts say the real interest rate in Ethiopia is negative 25 percent below zero and this is discouraging citizens from saving their money.
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