ADDIS ABABA – Ministry of revenue plans to collect over 248 billion Br in the Ethiopia fiscal year that started this week, its top official said on Friday.
The ministry’s target shows a 24 billion birr increase as compared to the amount stated in the government’s budget for the year. The recently approved budget expects to raise 224 billion Br from government revenue.
Accordingly, the ministry plans to collect 150 billion Br from internal revenue while the remaining 98 billion Br from customs duty taxes.
“We are planning to achieve this provided that the economy will grow as planned and the peace security conditions of the country will get better than last year,” said Adanech Abiebie, minister of Revenues.
The minister briefed reporters on the previous FY performance and her plan for the current fiscal year on Friday. She said the ministry collected over 198.1 billion Br in revenue in the 2018/19 FY.
The amount increased by 22 billion Br or 12% compared to the preceding year but the ministry missed its target of collecting 213 billion Br.