2merkato

The Council of Ministers unanimously approved a draft budget for the 2022/2023 Ethiopian fiscal year. The budget was prepared based on the 2022 - 2026 mid-term macroeconomic and fiscal framework. The budget was sent to the Parliament for a final approval. The approved draft budget is Birr 786.61 billion and it is aimed at meeting national goals, protecting national security, assisting displaced people, and reconstructing damage infrastructure and services.

The Oromia Regional State Industrial Parks Development Corporation has announced that 10 investors will begin production at the Bulbula Integrated Agro Industrial Park by the end of the fiscal year.

Bulga town which is located in North Shewa Zone of the Amhara Regional State has granted permission to 63 investors who collectively have a registered capital of over Birr 11 billion to engage in agriculture, food processing, steel manufacturing, and other industrial sectors.

One of Ethiopia’s private banks, Buna International Bank (BIB), decided to sell shares to its employees who worked for at least two years. The intention behind the decision is to keep the employees and also motivate them.

Bunna Bank and Wegagen Bank have reported profitable performances in the 2022/23 fiscal year. Bunna Bank announced a profit before tax of Birr 1.35 billion, mobilized over Birr 36.59 billion in deposits, and approved Birr 8.92 billion in loans across various economic sectors.