Parliament Nods to Federal Budget Bill

July 9 , 2022


Parliament Nods to Federal Budget Bill

Last week, Parliament approved the 786.6 billion Br federal budget bill for the 2022/23 fiscal year. The budget bill is 40pc higher than what lawmakers had approved for 2021/22 and around 16pc higher when accounting for the 122 billion Br supplementary budget approved last December. The budget comprises four components: recurrent and capital expenditures, as well as subsidies to the regional states and financing projects under the millennium developmental goals. The recurrent budget comprises close to 45pc of the total. A little less than 220 billion Br has been set aside for capital expenditures. Less than 200 billion Br has been apportioned to cover regional states' subsidies and pay for development projects. Authors of the budget bill propose to cover 61pc of the budget from domestic tax revenues.


Radar

MAGNETIC FREE TIME

Many children could be seen on the streets of Addis Abeba in the business of weighing people using portable scales. But it is a job with much free time. One kid has attached a rope to a piece of magnet to collect materials with iron without having to bend...


Radar

NEW GEAR

Guests, including Asfaw Alemu (centre), president of Dashen Bank, and Samuel Tafesse, real estate mogul, are shown the new Nissan Navarro pickup vehicle at Nyala Motors showroom on July 30, 2022. Despite a foreign currency crunch, the car market is hot, with sellers boasting lots at full capacity...


Radar

UNSIGHTLY SUBURB

In an area around Goro, along the Yerer road, are discarded plastics that have been collected over time, and other refuse, making the neighbourhood smelly and unsightly. Yet the urban sprawl continues, with expensive villas rising up and transforming the neighbourhood into a suburb...