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Ethiopia proposes $8 billion national budget

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June 8, 2012 (ADDIS ABABA) - Ethiopia’s Council of Ministers has proposed a record 137.8 billion Birr (nearly $ 8 billion) annual budget for the 2012/2013 fiscal year, focusing on combating poverty.

The proposed budget, according to the Ministry of Finance and Economic Development, will mainly be allotted for priority projects such as infrastructure development, education, health and power generation activities, which will be carried out during the fiscal year, which in Ethiopia begins in July beginning July.

The majority 2012/2013 budget will be raised from internal income, while the balance - projected to be around $ 1 billion - will be mobilised from external sources in the form of loans and grants.

Just over more than 26.8 billion Birr ($1.5 billion) of the stated budget serves as the country’s regular budget, while over 54.4 billion Birr ($3 billion) is allocated for capital budget.

Over 36.5 billion Birr ($2 billion) of the budget is allotted to subsidize regional states while 20 billion Birr ($1.1 billion) is earmarked to support activities aimed to meet the United Nations Millennium Development Goals (MDGs).

The proposed draft budget, was formulated by taking into account the country’s current, economic, social situation and other important factors and has been referred to parliament for final approval.

(ST)

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  • 9 June 2012 09:18, by Besrat

    I just want u to correct what you have wrote in brackets when you change z Ethiopian birr to dollar in to billions not millions. Like $1=around 17.6Birr.
    Thanks

    repondre message

  • 9 June 2012 17:40, by Wolleyewu

    A country in the verge of famine under tribal regime in histroy how come a government lacking public support project such a big proposal from empty purse. May it indicates their intension to sell out Ethiopian air lines, telecommunication, Medin insurance and other mecro economic sector and back bone of the country apart from the cheap deal of our fertile lands for Arabs, chines and Indians.

    repondre message

    • 11 June 2012 11:19, by Asmera

      Woleyewu,

      You made a mistake. Please first understand Ethiopian economy is a growing economy, which is not a stagnant economy.The negative perception you have in mind about the government does not represent the country. In principle we have to support the government projects, plans and strategies. Always keep in mind we have several enemies around us specially Arabs and spices of Arabs inside and

      repondre message

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