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Excise tax pounds Beer Market Hard

By: Temesgen Mulugeta (FORTUNE STAFF WRITER)
Published On: Feb 29,2020

With beer prices increasing nearly 50pc due to the new excise taxes coming into effect, many bar owners are experiencing a notable drop in customers. The reduced demand for beer is also affecting breweries, with some deciding to postpone new investment and even resorting to layoffs,  reports Temesgen Mulugeta, Fortune staff writer .