Ethiopia’s federal legislature House of Peoples’ Representatives (HPR) approved the proposed 274.3 billion Birr budget for the coming fiscal year. The budget plan shows a 21 percent increase from last year’s approved fiscal budget.
From the entire budget, 105.7 billion Birr is allotted as capital budget while 87.87 billion Birr and 68.8 billion Birr is assigned for state budget subsidies and recurrent budget in respective. The rest 12 billion Birr is for attainment of Sustainable Development Goals (SDGs).
Speaking to the MPs, Prime Minister of Ethiopia, Hailemariam Dessalegn, said his government will be using both internal and external auditing system in order to make sure the budget is used for the planned purpose.
According to Walta Information Center, the approved budget plan envisages an 11 percent growth rate and 8 percent of inflation rate.
In related news, the House also passed the Revised Financial Administration Proclamation.
Source: Walta Information Center
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