Inspenet, June 8, 2023
Ethiopian Finance Minister Ahmed Shide has informed the House of Representatives (Parliament) that they forecast economic growth of 7.9 percent for the coming fiscal year.
Shide, during the presentation of the federal government budget bill at the twenty-fourth ordinary session of the Ethiopian Parliament, explained that the country’s economy has registered an average increase of 6.1 percent in recent years and for the period in course will be 7.5 percent.
The budget proposal was based on the assumption that this set of activities related to production, goods and services, among others, will return to a normal and healthy state after the crisis faced, as well as the strict monetary and fiscal policy measures promoted by the government, he specified.
Similarly, it shows an unadjusted budget deficit of more than five thousand 166 million dollars.
On the other hand, the minister revealed that they plan to collect more than eight thousand 89 million dollars from taxes of the more than nine thousand 670 million dollars that the federal government expects to obtain in the budget project.
After the council has discussed the proposed budget it will be forwarded to the Standing Committee on Planning, Budget and Finance for detailed review.
The Council of Ministers approved last Tuesday the budget project of more than 14 thousand 707 million dollars for the fiscal year 2023/24, which plans to help people displaced by conflicts.
Sustainable development goals and infrastructure reconstruction at the center of the Ethiopian budget
The Prime Minister’s Office revealed that the amount for that period was prepared from the perspective of maintaining the nation, caring for citizens affected by man-made disasters and rebuilding infrastructure damaged due to conflicts.
Likewise, it seeks to achieve the directions and objectives of social and economic transformation that may occur in the future, in addition to being prepared on the basis of the medium-term macroeconomic and fiscal frameworks 2023-2027.
Of the budget approved during the twenty-first ordinary session of the council, more than six thousand 781 million dollars will be destined for regular expenses of the federal government, more than three thousand 740 million for capital expenses and more than three thousand 927 million will support the regional states .
More than 256 million dollars will be used in the implementation of the Sustainable Development Goals.
Source and internal photos : Prensa Latina
Cover photo : ShutterStock
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