Addis Ababa — The federal revenue collected in the first six months of the fiscal year has reached 709 billion Birr, prompting the government to revise its annual target upwards from 1.2 trillion Birr to 1.5 trillion Birr, Prime Minister Abiy Ahmed told the House of People's Representatives today.

Presenting the government's mid-year fiscal performance, the Prime Minister recalled that the administration submitted a plan to collect 1.2 trillion Birr annual revenue.

However, performance during the first half of the fiscal year indicates stronger-than-anticipated momentum.

"In six months alone, we have collected 709 billion Birr," PM Abiy stated.

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Moreover, revenue mobilization has accelerated in recent weeks as 85 billion Birr was collected in just the past 25 days.

Based on the trends, the Prime Minister noted that revenue collection is projected to reach between 810 and 815 billion Birr in the remaining months of the fiscal year, positioning the government to significantly exceed its original target.

"As a result, we are revising our plan upward --from 1.2 trillion Birr to 1.5 trillion Birr," he announced.

The premier further stated that total combined federal and regional collections would reach 2.5 trillion Birr, if regional states mobilize 1 trillion Birr in revenue.

Such performance would increase the government revenue to approximately 9 percent of gross domestic product (GDP), reflecting strengthened domestic resource mobilization and improved fiscal capacity.

Prime Minister Abiy underscored that the enhanced revenue performance demonstrates growing economic activity, improved tax administration, and expanding compliance, reinforcing the government's efforts to build a more self-reliant and resilient economy.