Govt Proposes Nearly a Trillion Birr Budget for Next Fiscal Year

ADDIS ABABA – The government has proposed nearly a trillion birr or approx. 17.5 billion US dollar national budget for the next 2024/25 Ethiopian fiscal year.

The proposed budget is a record high with about 15.9 percent increase over the current fiscal year which was 801 billion birr (or $15.1 Billion).

In a statement, the Office of the Prime Minister says the Council of Ministers endorsed the bill that proposes “nearly a trillion birr” annual budget during its regular meeting today.

The budget bill, the Office states, was prepared based on the 2017-2021E.C. mid-term macroeconomic and fiscal framework.

The preparation has also taken current domestic resource mobilization capacity and anticipated influx of funds into account, the PM office notes.

The statement, however, does not delve into the specifics of the budget allocations but says it covers recurrent and capital expenditures, subsidies to the regions and projects under Sustainable Development Goals (SDGs).

The draft budget has been directed to the lawmakers for further discussions and ratification. If approved the budget will be the largest in the history of the country.

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