July 19, 2019
Ethiopia’s Ministry of Revenue said that it has collected 198.1 billion Ethiopian birr in the just ended Ethiopian fiscal year.
This year,the ministry has collected 22 billion birr higher compared to the previous year which is 12 percent higher.
However, the amount collected this year is lower than the targeted amount. The ministry planned to collect 213 billion birr.
Revenue collection system has improved but the minister of revenue Adanech Abebe believes that the revenue that Ethiopia is generating is not adequate compared to the income and/or wealth that Ethiopia is generating.
The amount intended to collect next year is 248.3 billion birr.
The ministry also announced that it seized 1.4 billion birr worth of smuggled goods and more than one thousand smugglers are in custody.
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Are you guys became time travelers? It’s July 13 today.
Ethiopia had only 66 Billions of Birrs in circulation printed by the National Bank just a decade ago.
Now a decade later Ethiopia has a total of 789 Billion Birrs printed in “circulation” meaning on average the National Bank of Ethiopia had been printing 72.3 billion Birrs each year for the last ten years.
In the last ten years the government of Ethiopia had printed 723 billion Birrs totally with most of the money ending up in pockets of senior government officials.
The justice scale in Ethiopia is still standing diagonal rather than horizontal as it should, due to the tremendously uneven power