ADDIS ABABA – Addis Ababa City Administration Cabinet has passed a 100.5 billion birr spending plan for the 2022/23 Ethiopian budget year, which will start on that on July 8.
Members of the Cabinet endorsed the draft spending plan during their eleventh regular session of its first term today.
The total budget has shown a 41.6 percent increase as compared to the concluding 202122 Fiscal year spending, announced Adanech Abiebie, mayor of the city of Addis Ababa.
Adanech said at least 54% of the new budget, or 54.87 billion birr, is allocated for capital expenditure.
The cabinet has also allocated 41.31 billion birr for recurrent spending, and the remaining 3.87 is also set aside as a reserve.
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