Ethiopia’s Council of Ministers has approved a record federal budget proposal of 2.34 trillion birr for the 2019 fiscal year and forwarded it to the House of People’s Representatives, signaling the government’s continued commitment to economic reform and development priorities.
During its 56th regular meeting, the Council reviewed and unanimously endorsed the country’s Medium-Term Macroeconomic and Fiscal Framework (2019–2023), which is designed to build on the progress achieved under Ethiopia’s ongoing comprehensive economic reform program.
Related articles
According to the Council, the reform agenda has helped strengthen key economic fundamentals and address longstanding macroeconomic challenges. The newly approved framework will serve as the foundation for budget planning over the coming years and guide fiscal policy implementation.
The Council also held extensive discussions on the draft 2019 Federal Government Budget Proclamation. The proposed budget was prepared in line with the objectives of Ethiopia’s Ten-Year Perspective Development Plan, the 2019–2021 Development and Investment Plan, and the medium-term macroeconomic framework.
The budget allocates resources for recurrent government expenditures, capital investment projects, transfers to regional governments, and programs supporting the implementation of the Sustainable Development Goals (SDGs).
In total, the government has proposed a budget of 2,339,268,126,738 birr, marking one of the largest public spending plans in the country’s history.
Following deliberations, the Council of Ministers unanimously approved the draft proclamation and decided to submit it to the House of People’s Representatives for further consideration, while recommending the mobilization of additional resources to support the government’s development agenda.
The decision comes as Ethiopia seeks to sustain economic growth, strengthen fiscal stability, and accelerate investments aimed at social and economic transformation.
