Ethiopia's parliament passes budget for next fiscal year
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Loading... - Kisi Anane
- 09 Aug 2022
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The budget is up 40% from the previous year and slightly higher than the country's inflation rate.
According to the text presented to parliament, the state budget for the fiscal year in Ethiopia is 786.61 billion birr (about 15 billion euros) against 561.7 billion birr in 2021-2022.
According to the government, the budget increase is 16.6% in real terms. Inflation stood at 37.2% year-on-year in May, according to the latest available official figures, and the birr has depreciated by about 20% against the dollar over a year.
The budget law passed allocates 345.1 billion birr to general expenditure, 218.1 billion birr to the capital budget and 209.4 billion birr to finance the regional states that make up the federal republic.
In addition, 14 billion birr is earmarked for the implementation of the Sustainable Development Goals (SDGs).
The deficit is 231.4 billion birr, or 3.4% of gross domestic product. Read More...
