By Staff Reporter
ADDIS ABABA – (BORKENA) – The Council of Ministers has ratified, at its 21st Regular Meeting, the Ethiopian Federal Government Draft Budget Proclamation of the 2023/2024 Ethiopian Fiscal Year.
It was underscored on the occasion that the budget allocation for the 2023/2024 Ethiopia Fiscal Year has been formulated from the perspectives of supporting citizens displaced due to natural and manmade causes, rehabilitation of infrastructures, which were demolished by the war…
Accordingly, the total amount of budget earmarked for 2023/2024 Ethiopian Fiscal Year is 801.65 billion birr, sources said. Of this 369.6 billion birr has been allocated for regular expenditures to be used by the federal government while 203.9 billion birr was allotted for capital expenditures. The Council has also approved 214.07 billion birr to be disbursed for regional support while 14 billion is set aside for the executions of Sustainable Development Goals.
Information released from the Prime Minister Office indicates that after deliberating the draft budgetary proclamation in detail, the Council added inputs and forwarded the document to the House of Peoples Representatives.
The new budget ratified by the Council of Ministers has shown a 15.04 billion birr increment when it is compared to that of the previous Ethiopian Budget Year. The total amount of budgetary allocation for the 2022/2023 Ethiopian Fiscal Year was 786.61 billion birr, according to information issued by the Office of the Prime Minister.
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