Addis Ababa, June 5, 2021 (FBC) – Prime Minister Abiy Ahmed announced that ,in its 97th regular session, the Council of Ministers has today approved a 561.7 Billion Birr draft budget for the 2021/2022 Ethiopian Fiscal Year.
“Due attention is given to enhancing our productive capacity in line with the 10 year perspective plan” the Prime Minister said. Ethiopia has been laying the foundation for its path to Prosperity, Prime Minister Abiy added.
In its 97th regular session today, the Council of Ministers has discussed two major issues; additional budget for concluded 2020/2021 and draft budget of upcoming 2021/2022 fiscal year and passed decisions accordingly.
As per first agenda, the council has approved additional budget amounting to 26.4 Billion Birr for the concluding 2020/2021 Ethiopian fiscal year. Besides the volatile macroeconomic situation, the council puts into consideration the law enforcement operation in Tigray, people affected by drought, rehabilitation of returnees and IDPs, Covid 19, protection of flooding, subsidy to fertilizer supply and capacity building for mining and petroleum, among others, while appropriating the additional budget.
The additional 26.4 Billion Birr budget has been secured from non-tax income, domestic loan sources and development partners, it is stated.
Secondly, the Council has unanimously approved 561.7 for the upcoming fiscal year and referred the resolution to the House of Peoples Representatives for further scrutiny and approval. The budget appropriation has been undertaking cognizant of the social and economic development growth and macrofinacial prospects.
Out of the total proposed budget, 162 billion Birr has been allocated for government spending, 183.5 billion Birr for capital expenditure, 203.95 billion Birr for regional states’ budget and 12 billion Birr for implementation of sustainable development goas.