7 July 2017

Ethiopia: Parliament Approves 17% Increase in Next Fiscal Year Budget to 320.8 Billion Br

The Ethiopian parliament has approved a 320.8 billion Br budget for the coming fiscal year in its final meeting before the conclusion of the current fiscal year. The amount is 17pc higher than the previous fiscal year.

Out of the total budget, 114.7 billion Br will be used for capital expenditure, 81.8 billion Br for recurrent expenditure and 117.3 billion Br to subsidise regional states. The remaining seven billion Br will be allocated for Sustainable Development Goals (SDG) projects.

The new budget reveals that the country's budget deficit widens to 53.8 billion Br, which accounts for 2.5pc of the country's gross domestic product (GDP). Furthermore, the new budget aims to boost revenue collection by 26 billion Br to 196 billion Br for the next fiscal year.

About 61pc of the budget will be used to finance infrastructure developments such as road, education, agriculture, water, health and rural electrification projects.

Ethiopia

Ethiopian Attracts More Travellers With Modern Aircraft Acquisition

Ethiopia Airlines has been adjudged as the foreign carrier with the newest fleet of aircraft that operate into Nigeria… Read more »

Copyright © 2017 Addis Fortune. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 900 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.