Ethiopian Windfall Tax to Supplement Budget
The windfall tax Ethiopia collected from commercial banks after the devaluation of the birr last year is to be used to supplement the budget of the Ethiopian Roads Authority and the Ministry of Education.
The Ministry of Finance and Economic Development allocated 3 billion birr the ERA and 1 billion to the MoE. The bill allocating the supplementary budget was approved by the Council of Ministers and referred it the House of Peoples Representatives which referred it to the Budget and Financial Affairs Standing Committee.
If the committee approves the supplemental budget ERA’s budget will increase to 20.5 billion which is 177% more than the 7.1 billion birr the authority was allocated in 2008-09.
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