Council of Ministers Approves Macroeconomic & Fiscal Framework

ADDIS ABABA – The Council of Ministers has approved a macroeconomic and fiscal framework of Ethiopia today.

The draft framework was the only agenda that the council discussed during its regular session chaired by the Prime minister Abiy Ahmed on Saturday morning.

In a statement, the Prime Minister Office said the macroeconomic and fiscal framework is prepared for the middle term running from the 2014 to 2019 Ethiopian fiscal year.

It intends to set a frame for detailed federal budget and general revenue forecast for the 2015FY, expenditure ceiling, budget deficit and budget support ceiling for regional governments.

The Framework is prepared based on the cost of development projects, humanitarian assistance for man-made and natural disasters, reconstruction and rehabilitation, defense force, paying debt and executing new projects.

After extensive deliberations and adding inputs gained in the discussion, the PM office said Council has decided to enact the framework.