FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds

Fortune Logo

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.

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.



Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

The Geopolitical Battle Over Monetary Infrastructure

The development of payment infrastructure in emerging-market economies (EMEs), from i...

Making Roads Pathways of Progress, Not Corridors of Grief

For decades, Ethiopia's roads have been described through the language of fate. The d...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Every Encounter with the State Should Not Become an Invoice

May 9 , 2026

The Ethiopian state appears to have discovered a fiscal instrument that is politicall...

National Dialogue Has Everything But the Trust It Needs

May 2 , 2026

By the time Ethiopia's National Dialogue Commission (ENDC) reached the end of its fir...

Addis Abeba's Roads Reveal a Country Where the Powerful Drive Through the Law

Apr 25 , 2026

In a political community, official speeches show what governments want their citizens...

Ethiopia's New Diplomacy Essence Could Be About Shielding Sovereignty

For much of the past three decades, Ethiopia occupied a familiar place in the Western...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

The Silence That Leadership Can't Keep

A few days ago, I attended a virtual conference in Canada that stayed with me, not be...

Development That Redraws the Rent Line

Urban renewal is often sold as a promise: cleaner streets, safer neighbourhoods, bett...

Life Matters

Motivation Drops as the Day Begins in Sleepwear

We have all seen the aesthetic. The “work from home” dream usually comes packaged...

The Final Exam No One Prepared For

The first time I heard about the “Mesob” one-stop service initiative, relief came quickly. It sounded like a promise to citizens worn do...