• Ethiopian Petroleum Supply Enterprise faces 208 billion ETB losses linked to foreign exchange reforms. 

• Government officially classifies fuel subsidies as direct budget spending and  it will be lifted soon.

• Fuel subsidy cap set at 100 billion ETB per fiscal year. 

• Loss valuation reflects accelerated birr devaluation under market-based FX system. 

• National Bank of Ethiopia implemented market-based FX reforms from July 2024. 

Why it matters?