Home | News    Sunday 12 June 2011

Ethiopia proposes record budget of nearly $7 billion for 2011/2012

separation
increase
decrease
separation
separation

By Tesfa-Alem Tekle

June 11, 2011 (ADDIS ABABA) - The Ethiopian Council of Ministers on Friday proposed a record of 117.8 billion birr ($6.98 billion) budget for the 2011/2012 fiscal year, mainly aimed at alleviating poverty.

The proposed budget which saw an increase of $1.28 billion from last year, will be presented by Prime Minister Meles Zenawi to parliament for final approval next month.

Some 48.8 billion birr of the total budget has been alloted for priority projects such as infrastructure development, education, health and sanitation activities and 23.3 billion for regular expenditures.

Some 31.4 billion birr of the remaining is allotted to support the nine regional states of the country during the fiscal year, between July 8, 2011 and June 23, 2012.

The horn of Africa country, has also allocated 15 billion birr to support and meet the United Nations Millennium Development Goals (MDGs). The plan was agreed by all 191 UN member states, giving eight development to be achieved by the year 2015, including halving extreme poverty and hunger.

Ethiopia, one of Africa’s fastest growing economies, has registered double-digit economic growth for the past few years. Despite souring inflation rates that hit 29.5 percent in April, the country expects the economy to grow by 11.4 percent this year.

According to the Ethiopian council of ministers, the budget was endorsed taking into account the country’s current political, economic situation, inflation and the launch of a 5-year development strategy.

US$ 3.6 billion of the total budget will be sourced from local resources while the balance will be mobilized from external sources in the form of loans and grants.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Invisible, Forgotten, and Suffering: Darfuri Refugees in Eastern Chad 2016-04-28 18:24:28 By Eric Reeves There are more than 20 million refugees worldwide—and half of them are children. Moreover, according to the UN High Commission for refugees, 86 percent of these refuges are in (...)

Return of Dr. Machar to Juba and next political move 2016-04-26 22:23:10 By James Okuk After exhausting the immature dramatic politicking about return of Dr. Riek Machar to Juba to take up his duties as the First Vice President of the Republic of South Sudan for 30 (...)

Darfur referendum results are nothing but foregone conclusion 2016-04-25 21:27:20 By Mahmoud A. Suleiman The News media owned by the ruling regime of the National Congress Party (NCP) are quoted as saying that the people of the Darfur in the region that doomed by civil wars (...)


MORE






Latest Press Releases


Open Letter to President Salva Kiir and 1st Vice President Dr. Riek Machar 2016-04-18 12:36:12 South Sudan Women United April 15, 2016 Your Excellencies: South Sudan Women United writes to congratulate you both on the steps you are taking towards ending violence in South Sudan and (...)

Report on a tour of the SPLM-N secretary-general in the Nuba Mountains 2016-04-02 07:11:03 Sudan Peoples’ Liberation Movement – North (SPLM-N) *** Nuba Mountains of South Kordofan March 30, 2016 · The SPLM-N is for peace, but the Addis Ababa Agreement will co-opt the opposition into the (...)

Sudan: Silencing women rights defenders 2016-03-31 20:22:15 Human Rights Watch Sudan: Silencing Women Rights Defenders Sexual Abuse, Intimidation by Security Forces (Nairobi, March 24, 2016) – Sudanese security forces have used sexual violence, (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.