Ethiopia’s Council of Ministers approves 386.9 bln ETB budget for next year

ADDIS ABABA: June 8 (Ethiopian Informer) – The Ethiopian Council of Ministers on Saturday approved close to 386.9 billion Ethiopian birr (close to 13.4 billion U.S. dollars) budget for the upcoming Ethiopian fiscal year starting on July 8, 2019.

The Ethiopian Prime Minister’s Office in a statement that followed the council’s 71st session on Saturday disclosed that over 109.4 billion Ethiopian birr (ETB) of the total amount is allocated for recurrent budget, about 130.7 billion ETB for capital expenditure, some 140.7 billion ETB for budget subsidy to regional states, while close to 6 billion ETB for the execution of the global Sustainable Development Goals (SDGs).

የሚኒስትሮች ም/ቤት በዛሬው ዕለት ባካሄደው 71ኛ መደበኛ ስብሰባ በ2012 በጀት ዓመት የፌዴራል መንግስት ረቂቅ በጀት ላይ ተወያይቶ ውሳኔ አሳለፈ።#PMOEthiopia pic.twitter.com/MHaUo4VD34

— Office of the Prime Minister – Ethiopia (@PMEthiopia) June 8, 2019

The budget, once approved by the Ethiopian Council of Ministers, was referred to the Ethiopian House of People’s Representatives – the lower house of the Ethiopian parliament – for further scrutiny and ratification.

Ethiopia’s budget during the current 2018-2019 Ethiopian fiscal year, which will conclude on July 7 2019, was close to 12.8 billion U.S. dollars.