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According to data in the World Economic Outlook (WEO) report issued by the International Monetary Fund (IMF) in April 2025, and based on economic conditions that currently exist, certain countries are considered to be hyperinflationary at 30 June 2025. Therefore, reporting entities in those countries will be required to apply MFRS 129 'Financial Reporting in Hyperinflationary Economies'. Consequently, any entities with interim or annual financial reporting requirements at 30 June 2025 or thereafter should reflect MFRS 129 in their MFRS financial statements.
There are two main changes to the countries considered to be hyperinflationary. Firstly, from 30 June 2025 onwards we believe Burundi is considered to be hyperinflationary. The WEO reported a 3-year cumulative rate of inflation of 108% as of December 2024 and predicts a 3-year cumulative inflation rate of 123% for 2025.
Secondly, the WEO report also identifies that Ethiopia and Yemen are no longer considered hyperinflationary as of June 2025 due to the predicted decline in inflation numbers from the succeeding three-year period from 31 December 2024.
This means that from 30 June 2025 onwards there are fifteen countries around the world where MFRS 129 should be applied, when entities want to state they are in full compliance with MFRS Accounting Standards.
Read our publication to understand more.
How we can help
We hope you find the information in this article helpful in giving you some insight into aspects of the June 2025 Hyperinflation Update. If you would like to discuss any of the points raised, please do not hesitate to contact us.
