ADDIS ABEBA – Prime Minister Abiy Ahmed’s cabinet has approved close to 387 billion Br (or 13.1 billion USD) budget for the 2019/20. The amount shows substantial increase from the 2018/19 FY budget.
Ministers of Council passed the budget bill in its 71st regular session held on Saturday. The total budget has shown a 40 billion increase from the 2018/19 budget year which was 346.9 billion Ethiopian Birr or 12.71 billion USD.
Of the total budget, more than 109.46 billion Br is allocated for recurrent budget and over 130.7 billion Br for capital expenditure.
The remaining are a budget subsidy to regional states (over 140.77 billion Br) and for the execution of Sustainable Development Goals (6 billion Br).
After “a thorough discussion”, the council of ministers passed the budget bill and sent it to the lower house of Ethiopian parliament for approval, said the office of the Prime Minister in a statement late Saturday, June 8, 2019.