Addis Ababa City Council Approves Over 70bln Birr Annual Budget

ADDIS ABABA – Council of Addis Ababa City administration approved a 70.6 Billion Birr Budget for the new 2021/22 fiscal year, which started on July 8.

The budget, which showed more than 11 Billion Birr increase from the previous budget year, was approved by the council during its 8th year 3rd regular session on Saturday.

The city administration has allocated 34.2 billion Birr for recurrent budget, 33.5 billion Birr for capital expenditure and 2.2 billion birr for other spendings.

As per the officials, the budget was formulated taking the country’s five year development plan into consideration.

They said the administration will give more focus on financing housing and infrastructure construction projects as well as creating more job opportunities, expanding transportation service and improving water and sewage systems of the city during the fiscal year, according to the state-run Ethiopian News Agency.

Officials expect to cover most of the spending (49.7bln) from tax revenue and non-tax revenues (7.6bln) collected from tax collected from the city administration. The remaining will be raised from loan, road fund and aid.