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


The perilous change in Darfur’s demography 2015-08-28 08:10:36 By Eric Reeves The debate about whether or not Darfur was the site of genocide long ago flamed out, largely because the issue became excessively politicized and the world—in general—no longer (...)

IGAD-Plus and Peace Politics: Dateline without deadline 2015-08-23 20:24:08 “It is time we define governments in Africa as the responsibility, not the power” – Dlamini-Zuma By James Okuk On 17th August 2015 in Addis Ababa, the Intergovernmental Authority on Development (...)

South Sudan Peace Agreement: to Sign or not to Sign 2015-08-19 05:44:38 By Steve Paterno South Sudan peace process faltered badly. The most anticipated deadline to sign a final comprehensive agreement has passed, with government failing to ink the proposed (...)


MORE






Latest Press Releases


Resolutions and recommendations of the SPLM-N leadership meeting 2015-08-11 22:21:18 SUDAN PEOPLES’ LIBERATION MOVEMENT NORTH Leadership Meeting of the Sudan People’s Liberation Movement- North ( SPLM-N) Final Communique: Resolutions and Recommendations August 6th, 2015 The (...)

Sudanese, human rights groups and advocates demand renewal of UNAMID 2015-06-25 06:03:32 FOR IMMEDIATE RELEASE CONTACT: New York: Ahmed H.Adam, Tel. +1 347 567 1491 or aha64@cornell.edu Kampala: Abdelrahman Gasim, Tel. +256 7 51 90 77 77 or gasim202000@gmail.com Geneva: Abdelbagi (...)

Civil society groups urge to stop hostilities in W. Bahr El Ghazal 2015-06-11 22:24:37 Urgent action for sustainable peace in Western Bahr El Ghazal State Civil Society Statement: June 10, 2015 Wau –Western Bahr El Ghazal State- The Republic of South Sudan We, civil society (...)


MORE

Copyright © 2003-2015 SudanTribune - All rights reserved.