The Public Financial Enterprises Agency announced securing 3.9 billion birr in the first two quarters of the financial year in Ethiopia.
The agency exceeded the target revenue of 1.17 billion birr it had set for this period according to Dr. Sentayehu Woldemichael, General Director of PFEA.
The revenue raise is also significantly more than the 2.4 billion birr the agency was able to raise in the same period last budget year said Dr. Sentayehu.
The public financial enterprises responsible for raising this revenue are the Construction and Business Bank, the Development Bank of Ethiopia, the Commercial Bank of Ethiopia and the Ethiopian Insurance Corporation he explained.The enterprises were able to raise the higher then expected revenue from service charges related to foreign trade and foreign currency exchange.
Source: Ethiopian News Agency
