Gov't Expenditures Hit 97.7b Br

Oct 17 , 2020

The federal government's expenditure during the first quarter of the current fiscal year stood at 97.7 billion Br, according to the Ministry of Finance. During the reporting period, the government was also able to get 80.8 billion Br in revenues from tax and non-tax sources, as well as from loans and grants. Of the total revenues, tax took the major share, amounting 61 billion Br. "We covered the budget deficit from treasury bills and domestic borrowing," said Ahmed Shide, minister of Finance. During the past three months of the year, the country was able to receive 474.5 million dollars of loans and grants, of which 456.6 million dollars was disbursed. Ethiopia also received a 131-million-dollar grant for its Novel Coronavirus (COVID-19) response programme. The largest sum, amounting to 131 million dollars, was contributed by Germany. Last fiscal year, tax revenues generated 228.4 billion Br,  20 billion Br short of the target.