Ethiopia’s Council of Ministers has proposed the Federal government’s budget for the 2014/2015 fiscal year to be 178.6 Billion Birr, Ethiopian News Agency reported.

If the House of Peoples’ Representatives (HPR) approves the proposed budget, the nation will see an increase by 23.7 Billion Birr or 15.3 percent when compared to the current fiscal year’s budget appropriations.

Out of the total 178.6 Billion Birr, 112 Billion is to be allocated to regular and capital budget, a 15.1 Million Birr increase compared to the current fiscal year’s budget allocation for regular and capital expenses.

51.5 Billion Birr has been allocated for regional subsidies.This also has increased by almost 8.5 Billion Birr.

To achieve the United Nations Millennium Goals, the Council of Ministers has allocated some 15 Billion Birr in it's budget scheme.

Source: Ethiopian News Agency