Gov't Expenditures Hit 97.7b Br

Oct 17 , 2020


[ssba-buttons]

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.


Radar

Ethiopia Unveils Consortium to Insure Millions of Farmers

Ethiopia has launched its Agricultural Insurance Consortium (AICE), pledging to protect three million farmers by 2026. Announced on July 3, 2025, at the Hyatt Regency, the initiative is backed by Pula Advisors and five major Ethiopian insurers. AICE plans to promote climate resilience through insurance bundled with the government's input voucher system. Leveraging AI platforms like Mavuno and PIE, it plans to standardise products, lower costs, and expand coverage to over 200 woredas. With agricu...


Radar

New Coopbank Partnership Targets Youth Economic Empowerment

The Cooperative Bank of Oromia (Coopbank) has signed a strategic agreement with Melka Ethiopia to provide loan services to over 120,000 young men and women nationwide. The partnership plans to promote youth economic empowerment by expanding access to finance and creating jobs, with a strong focus on rural and underserved areas. Both institutions held joint discussions to explore ways to improve youth livelihoods and financial inclusion. By closing access gaps, the partnership is expected to help...


Radar

Ethiopian Netpreneur Program Training Kicks Off

The Ethiopian Netpreneur 2025 Training Program has officially launched its first cohort in Addis Abeba with 64 entrepreneurs beginning their first round of training. Organised by the Global Digital Talent Academy, the initiative plans to empower local business owners, startup founders, and digital sector players with global-level e-commerce skills. At the launch event, Innovation and Technology Minister Belete Mola (PhD) urged participants to leverage the opportunity to build networks and shape...