Council of Ministers proposes over 320 bln birr budget for upcoming Ethiopian fiscal year

Addis Ababa, June 3, 2017 (FBC) – The Council of Ministers yesterday proposed over 320 billion birr budget for the upcoming Ethiopian fiscal year (2017/18).

Of the total budget, more than 114.7 billion birr will be allotted for capital expenditure, according to the press release sent to ENA.

More than 117 billion birr will be used to subsidize regional governments, while 7 billion birr will be allotted for sustainable development goals.

The new budget has shown a 9.6 percent increase compare to that of the present fiscal year, it was stated.

Meanwhile, the Council also passed decision on a loan agreement for the realization of Sustainable Development Goals in the health sector.

Both the new budget and the agreement were referred to the House of People’s Representatives for approval.