9 June 2017

Ethiopia: Coming Year Budget Prioritizes Industrial Dev't, Export Expansion - Ministry

Ministry of Finance and Economic Cooperation (MoFEC) announced that the coming Ethiopian fiscal year budget has been prepared taking into consideration GTP II, SDGs and Youth Revolving Fund, among others.

Explaining a 320.8 billion Birr cost of budget proposal for the House of Peoples' Representatives yesterday, Minister Dr. Abreham Tekeste said: "The budgeting has been done giving due attention to industrial development, export expansion and job creation."

Out of the total budget, 114.7 billion Birr has been allotted to road construction , education and health care services, rural electrification, agriculture and water development, the minister said ,adding that a large amount of the budget has also been allocated to industrial parks development and manufacturing industries.

According to him, the allocated budget will play vital role in reducing poverty as it supports the ongoing efforts to ensure sustainable development.

The minister said industrial parks that are operational and under construction, would create favorable situation for the manufacturing industry and export goods.

Having discussed the proposed draft budget, the MPs refereed the budget to the Finance Affairs Standing Committee for further scrutiny.

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