Ethiopian House of Representatives approved 48.6 billion additional budgets

Ethiopian House
Ahmed Shide, Ethiopia’s Minister for Finance, briefing parliamentarians

May 29, 2020

Ethiopian House of Representatives on Friday approved an additional 48.6-billion-birr budget. The addition is intended to address COVID 19 related socio-economic challenges.

Ethiopian Broadcasting Corporation (EBC), state media, report on Friday indicates that 38 billion birr is allocated for humanitarian assistance like food to an estimated 15 million people who are said to be vulnerable due to the economic impacts of Coronavirus.

The remaining amount is allocated for the procurement of health supplies to respond to the spread of the disease.

28.6 billion of the -stated amount is to be secured from loans and donations from abroad. 20 billion birr is to be raised through the sale of treasury bills and loans from local sources.

Ethiopia could lose up to 11 billion birr in revenue due to the Coronavirus crisis.

Join the conversation. Like borkena on Facebook and get Ethiopian News updates regularly. As well, you may get Ethiopia News by following us on twitter @zborkena

Leave a Reply

Your email address will not be published.