Home | News    Wednesday 6 July 2016

Ethiopia approves over $ 12 billion annual budget

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By Tesfa-Alem Tekle

July 5, 2016 (ADDIS ABABA) – The Ethiopian parliament on Monday approved a total budget 274.3 Billion Birr ($ 12.57 billion) for the 2016/2017 fiscal year.

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Egyptian President Abdel-Fattah al-Sisi, on the far left table seated, addresses the Ethiopian parliament Wednesday, March 25, 2015 (Photo AP)

The budget which was unanimously endorsed by lawmakers today has saw a 13.7 % rise compared to the previous year budget.

Sudan Tribune has learnt that of the total budget $ 4.8 billion is allocated for capital expenses and $ 3.1 billion for regular expenditures.

Around $ 4 billion is allocated for subsidy to regional states, and $ 550 million for expenses of sustainable development.

During today’s session, Ethiopian Prime Minister Hailemariam Desalegn said Ethiopian industry and service sector have shown growth of 7%.

The premier said the country was subjected to slow economic growth later this year due to impacts of El Nino which has significantly affected the agricultural sector.

Ethiopia is among some African countries which were severely hit by food insecurity which was caused by El Nino induced drought.

The drought which is worst in decades led to sharp deterioration in food security and massive drop in agricultural and pastoral production forcing over 10 million Ethiopians to depend on food Aid.

“The Ethiopian government has expended 800 million dollar to control the impacts of drought,” Hailemariam said.

The Premier said the country has performed good in growing its economy during this fiscal year (2015/216) and it was substantiated by the International Monetary Fund (IMF).

The Premier said the country’s economic growth for this year is expected to be 8.5%, lower than previous years when the country had been registering double digit economic growth.

According to Hailemariam, the government has worked aggressively to curb hitches of good governance.

ETHIOPIA OPEN FOR TALKS WITH ERITREA

With regard to Eritrea he said Ethiopia is ready to negotiate anytime with Eritrea if the latter is ready for dialogue.

The premier however warned his country would take proportional measures if red sea nation continues its attempt to destabilize Ethiopia.

Last month, forces of the two rival neighbors engaged in heavy border fighting along their common border.

Hundreds of soldiers were reported to have been killed and many more wounded from both sides.

Last month’s battle is the most serious military engagement since the two sides fought the 1998-2000 border war which killed tens of thousands.

The two sides traded blame over who first sparked the latest fighting which lasted for two days.

UNSC SELECTION

Concerning diplomacy, Hailemariam said Ethiopia’s election to be a non permanent member of UNSC is the result of consistent diplomatic efforts of the country.

Last week, the United Nations General Assembly elected Ethiopia for membership during an election Session for five non-permanent members of the United Nations Security Council.

Ethiopia was elected after the horn of Africa’s nation secured an overwhelming support from 185 countries out of the 193 UN member states.

Last week the Ethiopian Prime Minister said Ethiopia as member of the UNSC will stand firm in safeguarding the interests of Africa.

During its two year long service in UN security council, Ethiopia says it will exert maximum efforts to boost roles of African countries in the global decision making process which had been dominated by western powers.

Hailemariam said climate change, poverty, unemployment, peace and stability, terrorism and illegal migration will be among areas Ethiopia will focus to be addressed.

(ST)

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