SHARE THIS ARTICLE Share Tweet Post EmailEthiopia plans to increase 2019-20 spending by 1.6% to fund projects that will help boost the Horn of Africa country’s economic expansion. READ: Ethiopia Draws Record Inflows in Abiy’s First Year in OfficeThe government will spend 130.7 billion birr on capital projects including power plants and roads, 109.5 billion birr on recurrent expenditure and 140.8 billion birr will go to regional authorities. Most of the capital spending will go to “completion of already existing projects,” and “only a few new additional projects,” Shide said. It plans to plug the gap with domestic loans of 56.8 billion birr and raise 40.3 billion birr from foreign project financing. The government acknowledges the challenge of meeting the tax target, and will focus on increasing collections in the next fiscal year.
Source: Ethiopian News June 13, 2019 09:22 UTC