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Ethiopia’s Cabinet Approves Record 2024/2025 Budget of One Trillion Birr

StockMarket.et by StockMarket.et
June 7, 2024
in Business
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Ethiopia’s Cabinet Approves Record 2024/2025 Budget of One Trillion Birr

Ethiopia’s cabinet has approved a 25% increase in the national budget for 2024/2025, raising it to approximately one trillion birr ($17.51 billion), according to the Prime Minister’s office.

The new budget, which covers the fiscal year from July 8 to July 7, awaits parliamentary approval. If approved, it will be the largest budget in Ethiopia’s history as the government looks to fund development projects and support economic growth.

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The budget will be allocated for regular expenses for the federal government, for capital expenditure, support to regions, and support for the implementation of sustainable development goals.

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