Council of Ministers Approves Key Economic and Legislative Measures


Council of Ministers Approves Key Economic and Legislative Measures

The Council of Ministers has approved the 2018–2022 Medium-Term Macroeconomic and Fiscal Framework, which will guide next year’s budget, focusing on strategic revenue generation and resource allocation. Two international financing agreements were also endorsed: a 49.55 million dollar loan from the Arab Bank for African Economic Development to support youth employment around agro-industrial parks, and a 45.1 million Special Drawing Right (SDR) loan from the International Development Association to improve healthcare services for women and girls. Both are aligned with the national debt management strategy and will be sent to parliament for ratification. In labour and regulatory matters, the Council ratified a new regulation setting service fees for foreign employment agencies, aiming to balance affordability with cost recovery. It also referred two draft proclamations to parliament: a revised foreign employment law to protect Ethiopian workers abroad, and a Plant Protection and Quarantine Proclamation to modernise pest control systems and align plant trade with global standards.

[ssba-buttons]

Radar

Council Approves Nearly Two Trillion Dollars Budget for Upcoming Fiscal Year

The Council of Ministers has approved a draft federal budget nearing two trillion birr for the 2025/26 fiscal year, advancing it to Parliament for legislative review. Endorsed during it's recent session on Thursday, the proposal outlines allocations across recurrent and capital expenditures, regional transfers, and targeted investments directed at accelerating progress toward the Sustainable Development Goals (SDGs). Structured within the Medium-Term Macroeconomic and Fiscal Framework, the...


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hilton Hotel Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...