The budget for the next fiscal year was approved by the House of Peoples’ Representatives on Monday, July 7, 2014 to be 178.5 Billion Birr.

The budget got the approval of the House after holding a series of discussions within itself and the public.

The figure shows a 23.7 Billion Birr or a 15.3 percent increase when compared to the last year’s fiscal year.

Out of the total 178.5 Billion Birr 112 Billion of it is allocated to regular and capital budget. This also shows a 15.1 Billion Birr increase when compared to 2013/2014 fiscal year.

51.5 Billion Birr is allotted for subsidizing states once again showing an increase that is 8.5 Billion Birr.

With regard to supporting Ethiopia’s effort to achieve United Nations Millennium Development Goals (MDGs) by 2015, the House has allocated 15 Billion Birr.

Source: Walta Information Center