Ethiopia: Addis Abeba City Council Reviews 230.4 Billion Birr Budget Proposal for 2024/25 Fiscal Year

11 July 2024
Addis Standard (Addis Ababa)

Addis Abeba — The Addis Abeba City Council is currently reviewing a proposed budget bill for the upcoming 2024/25 fiscal year, showcasing a significant increase in spending plans.

The draft budget, prepared by the city's finance bureau, outlines a total expenditure of 230.4 billion birr, representing a 42% year-on-year increase. Notably, 63.6% of this budget (145 billion birr) is allocated for capital expenditure, signifying investments in infrastructure and development projects. The remaining portion will be designated for recurrent expenses.

On Wednesday, the Government Budget Expenditure Management Control Standing Committee of the city council convened to discuss the draft bill. Committee members sought clarifications from officials and experts of the Addis Abeba Finance Bureau.

Belete Moges, Director at the Bureau, addressed the committee, outlining projections that the city is anticipated to generate 230.4 billion birr in revenue during the fiscal year. This ambitious target aims to achieve self-sufficiency by covering the city's expenditures through internally generated funds. The Addis Abeba City Administration collected a total of 131.7 billion birr in revenue during the first 11- months of the just-concluded fiscal year.

Read the original article on Addis Standard.

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