The Council of Ministers, Ethiopia endorsed 137.8 billion birr as the federal budget for the coming fiscal year. The budget is expected to cover government expenditure including a range of projects as well as to subsidy regional states according to the formula put in place by the House of Federation.
The Cabinet came to the decision after holding in depth discussions said the statement from the Office of the Prime Minister.
The budget establishes 26.8 billion birr of the total sum for the regular budget while 54.4 billion birr is assigned for the capital budget.
More than 36.5 billion birr of the budget will be intended to subsidize regional states and 20 billion birr will be used to support activities towards achieving the Million Development Goals.The budget has been referred to the House of People’s Representatives for final approval.
Source: Walta Info
