Ethiopia's council of ministers have approved a budget for the upcoming 2022/23 fiscal year of 786.6 billion birr ($15 billion), an increase of 16.6% from the previous year, Prime Minister Abiy Ahmed's office said on Friday. Next fiscal year's budget focuses on safeguarding national peace, helping displaced people and mending infrastructure that has been damaged, Ahmed's office said in a statement. The war between the government and rebellious forces from Tigray has damaged government plans to modernise the economy and deterred some foreign investors. The local currency has plummeted and annual inflation is running at over 36%. (This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Source: Ethiopian News June 03, 2022 16:14 UTC