Addis Ababa, June 6, 2023 (FBC) – During its 21st regular session, the Council of Ministers has approved today 801.6 billion Birr draft budget for the 2023/24 Ethiopian fiscal year, the Office of the Prime Minister confirmed.
It is stated that the 2023/24 (2016 E.C) fiscal year draft budget of the federal government has been prepared from the outlook of maintaining national, helping citizens displaced by natural and man-made disasters, rebuilding the infrastructure damaged due to conflicts, and achieving the directions and objectives of social and economic transformation that may occur in the future. It is also presented based on the 2023-2027 (2016-2020 E.C) medium-term macroeconomic and fiscal frameworks.
In conformance to this view, the proposed budget was presented to the Council as 369.6 billion birr for the regular expenses of the federal government, 203.9 billion birr for capital expenses, 214.07 billion birr for support to the regional states, and 14 billion birr for the implementation of sustainable development goals with a total of 801.65 billion birr.
After thorough deliberations on the draft budget bill for the next Ethiopian fiscal year, the Council unanimously endorsed it to refer it with additional inputs to the FDRE House of Peoples’ Representatives.