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Council Approves Record-Setting Budget, Barring Depreciation

Jun 5 , 2021

The Council of Ministers today approved a record-high 561.7 billion Br budget, Prime Minister Abiy Ahmed (PhD) announced.

The Council of Ministers today approved a record-high 561.7 billion Br budget, Prime Minister Abiy Ahmed (PhD) announced.

The budget bill, which is yet to be legislated by parliament, saw an 18pc increase, five percentage points lower than the growth witnessed in the preceding fiscal year.

Even though the new budget presents a surge in local currency, it exhibits a six percent decline in terms of the Dollar due to the rapid depreciation of the Birr.


The budget bill, which is yet to be legislated by parliament, saw an 18pc increase, five percentage points lower than the growth witnessed in the preceding fiscal year.

Such a decline comes despite a continuing surge in government expenditure for security and defense as well as an increase in the cost of public projects resulting from an inflationary pressure.

Ethiopia's annual budget has hovered around 13 billion dollars for the last four years.

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