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


Undermining South Sudanese expertise’s is ironical! 2014-09-19 10:15:59 By Peter Gai Manyuon September 18, 2014 - The recent order from the Ministry of Labor and Public Service in the Republic of South Sudan that was issued on 16th of September 2014 is absolute (...)

Sudan - Colliding interests 2014-09-16 10:04:11 By Mohamed Elshabik September 15, 2014 - Sudan seems to be unconcerned by the current political crisis in the region. Amid a prognosis of full-scale war in South Sudan, unrest in Egypt, chaos in (...)

A pastoral appeal to South Sudanese to reconcile 2014-09-16 09:19:03 By Rev. Bernard Oliya Suwa, PhD September 15, 2014 - The 15th of December 2013 is a date that we South Sudanese are not going to forget any time soon – and so we shouldn't! After the violence (...)


MORE








Latest Press Releases


Sudan Democracy First Group: Art as resistance – art as resilience 2014-09-09 12:34:15 Sudan Democracy First Group Art as Resistance – Art as Resilience September 8, 2014 - To mark the third anniversary of the resumption of civil war in Blue Nile and Nuba Mountains/South Kordofan, (...)

Sudan: Those behind unlawful killings and torture of protesters must be brought to justice 2014-09-03 13:13:43 Amnesty International Sudan: Those behind unlawful killings and torture of protesters must be brought to justice The brutal suppression of protest in Sudan must end, and members of the security (...)

National Dialogue in Sudan: Past experiences and current challenges 2014-08-27 06:18:22 Sudan Democracy First Group (SDFG) Since independence, Sudan has undergone a number of national peace agreements, some of which were observed and honored for short periods, others which were (...)


MORE

Copyright © 2003-2014 SudanTribune - All rights reserved.