Tax Revenues Generate 19.2b Br

Dec 14 , 2019

The Ministry of Revenues has collected 19.2 billion Br in tax revenues in November, which is 104pc of its target. The Ministry had targeted to collect 18.3 billion Br in tax revenues, but the performance passes the plan by four percentage points. Comparing the result with the same period in last fiscal year, the revenues show growth of just under six billion Br, an increase of 36.1pc. In this fiscal year, the Ministry targets to collect 253 billion Br in taxes to cover 65pc of the federal budget. During the last fiscal year, tax revenues generated 197.2 billion Br, which was 83.7pc of the target.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...