ADDIS ABEBA – The Ethiopian parliament approved the federal government budget proposed by Prime Minister Abiy Ahmed for the 2019/20 fiscal year, which started today.
Finance minister Ahmed Shide presented government’s budget proposal to parliament last month 386.9 billion Birr ($13.48 billion) in government spending for the FY.
The amount shows a 12 percent increase for the 2018/19 fiscal year, which was a 346.9 billion Ethiopian Birr.
Over 109.4 billion Birr is allocated for recurrent budget, more than 130.7 billion Birr for capital expenditure, over 140.7 billion Birr for a budget subsidy to regional states, and 6 billion Birr for the execution of Sustainable Development Goals (SDGs).
Members of parliament approved the budget unanimously.