2018 Federal Budget Approval
During its 47th regular meeting on May 28, 2025, Ethiopia’s Council of Ministers reviewed and approved the draft budget proclamation for the 2018 fiscal year (Ethiopian Calendar). The budget, nearing two trillion birr, was prepared based on the Ten-Year Development Plan, the 2018-2022 Medium-Term Macroeconomic and Fiscal Framework, and an evaluation of the 2017 fiscal year’s program budget performance. It aims to support national security, boost production and productivity, and assist citizens displaced by natural and man-made disasters. The budget allocates funds for regular and capital expenditures, regional support, and Sustainable Development Goals implementation. After discussions, the Council unanimously forwarded the draft to the House of People’s Representatives with additional inputs.
Long-Awaited Startup Draft Proclamation
The Council also deliberated on the much-anticipated Startup Draft Proclamation, a long-awaited policy aimed at fostering a thriving startup ecosystem in Ethiopia. The proclamation seeks to create an environment where startups can establish, operate, and grow by leveraging technology to produce innovative products and services. It also addresses financial provision challenges in the sector, enabling startups to access necessary funding. After thorough discussion, the Council unanimously approved the draft, forwarding it to the House of People’s Representatives for further review, marking a significant step toward supporting innovation and economic growth.
source: pm office
