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Parliament Approves 118 Bln Birr Budget for 2011/12

The House of People's Representatives July 5, 2011 yesterday approved 118 billion birr budget for the 2011/2012 fiscal year. The budget approved yesterday is greater by 30 billion birr than the budget for the 2010/11 fiscal year.

Prime Minister Meles Zenawi said that the budget was prepared based the country's interest and capacity.

About 48.8 billion birr of the total budget is allotted for capital budget projects, 31.4 for regional states, 15 billion birr to support the Millennium Development Goals and 23.3 billion birr for regular expenditures.

More than 60 billion birr of the total budget will be secured from local resources while the balance is expected to be collected through grants and loans from international partners of the country.

Members of parliament suggested that the 15 billion birr budget allocated for the Millennium Development Goals (MDGs) should be made part of the budget for the regional governments. But Sufian Ahmed, minister of Finance and Economic Development, said that since the budget for the Millennium Development Goals differed from one region to another based on every region's objective situation, it would be more appropriate to allocate it separately.

Source: Walta Information Centre