Ethiopia’s Budget for the Upcoming Fiscal Year Approved

Staff Writer

Nairobi, Kenya—The House of the Federation, after discussing the draft 2019 (Ethiopian Calendar) federal government budget during its regular session today, approved it unanimously at more than 2.3 trillion birr and announced that it has been sent to the House of Peoples’ Representatives.

According to information released today by the Government Communication Service, the budget is allocated for recurrent expenditures, capital expenditures, and support to regional states.

The statement explained that the 2019 E.C. Federal Government budget was prepared based on the goals set out in the 2019–2023 Development and Investment Plan, which is part of the ten-year development plan, and the medium-term (2019–2023) macroeconomic fiscal framework.

It takes the performance of the 2018 program budget as a baseline and assesses the necessary expenditures in light of future social and economic transformation directions and objectives, the government’s financial capacity, and the mandates and responsibilities of implementing institutions to achieve the government’s goals.

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