Ethiopia’s government cabinet, the Council of Ministers (CoM) disclosed on Tuesday it has approved a proposed budget of 801.65 billion Ethiopian birr (14.71 billion U.S. dollars) for the upcoming 2023/2024 Ethiopia Fiscal Year, which will start next month.
In a press statement, the Council of Ministers stated the planned 2023/2024 fiscal year budget will be utilized to assist among other things national security, reconstruct destroyed infrastructures, assist citizens affected by manmade and natural disasters and support Ethiopia’s Sustainable Development Goals.
“6.8 billion U.S. dollars has been set aside for recurrent spending while 3.74 billion U.S. dollars has been set aside for capital expenditure,” the CoM statement revealed.
“3.93 billion U.S. dollars has been set aside for support to regional administrations while 0.26 billion U.S. dollars has been set aside for implementation of SDGs,” the Council of Ministers statement further revealed.
The Council of Ministers referred with unanimous vote the proposed 2023/2024 fiscal year budget to the Ethiopian parliament which is expected to formally ratify it in the coming few weeks.
