Ethiopia’s council of ministers Friday approved a $17.5 billion (close to one trillion Ethiopian birr) national budget for the next Ethiopian fiscal year which will start on June 8, 2024. In a statement, the Office of the Prime Minister said the Council of Ministers endorsed the bill that proposes “nearly a trillion Ethiopian birr” annual budget during its regular meeting on Friday. The budget bill, the Office stated, was prepared based on the 2017-2021E.C. The proposed budget, which was approved by the Council of Ministers with a unanimous vote, was referred to the Ethiopian parliament for ratification, which is expected to formally ratify the draft budget bill later this month. If approved the budget will be the largest in the history of the country.

Source: Ethiopian News June 08, 2024 15:27 UTC