By Staff ReporterADDIS ABABA – (BORKENA) – The total budget allocation of the 2023/24 Ethiopian Fiscal Year has faced a deficit of 281 billion birr, Ministry of Finance disclosed. Ahmed Shide said on the occasion that the budget of the 2023/24 Ethiopian Fiscal Year faced a 281 billion birr budget deficiency. The budget allocation of the 2022/23 Ethiopian Fiscal Year was birr 786 billion and it faced a deficit of birr 231.4 billion, according to Minister Ahmed Shide. He further said that the budget deficit of the 2023/24 Ethiopian Fiscal Year would be covered by local and foreign loans. Of the total budget deficiency, 242 billion birr will be covered from domestic loans while the 39 billion birr budget gap will be covered from loans to be taken from external sources, according to Ahmed Shide.

Source: Ethiopian News June 11, 2023 19:02 UTC