Eritrea: New Food Price Lists

Translated versions of some of the Announcements that are required, by law, to be displayed in every shop are listed below.

First, the Value of ERN and the Country’s economy

In order to have a better understanding of the value of the Nakfa, Eritrean currency, one needs to have an idea of a few factors:

1. Eritrea is one of the world's poorest countries. It has a command economy under the control of the sole political party, the People's Front for Democracy and Justice.
2. The government claims of adhering to a self-reliance policy which is many economists think is a cop-out.
3. Average salary in Eritrea (in towns) is $95.00 /month.
4. For example, starting salary of the members of the National Service is ERN 500 /month (which  is approximately $33.00).
5. The private sector is almost non-existent. The government is the main employer in the country.
6. There are severe restrictions on imports and tight limits on the amount of money people can withdraw from their own bank accounts banks.
7. Most families are supported by a family member who lives abroad.
8. Eritrean farmers grow food crops to feed themselves and their families.
9. The governments collects
10. Entrepreneurs cannot pursue their own economic dreams.
11. Eritrea has been at the bottom 5 in the United Nations Human Development Index for the last ten years.
12. Many Eritreans who live abroad end up paying 2% of their salaries as remittances to the government.
13. Black market is rife in Eritrea.
14. It is very difficult to work out what is going on in Eritrea's economy because the government does not release figures for its GDP and other key indicators.