Tax Revenues Generate 20b Br

Feb 22 , 2020

The Ministry of Revenues collected 19.96 billion Br in tax revenues in January, achieving 94.43pc of its goal. For the period, the Ministry aimed to collect 20.96 billion Br. Out of the collected revenue, 9.69 billion Br was generated from domestic taxes, 10.10 billion Br from custom duties, and the remaining amount from the national lottery. The Ministry has managed to collect 147.33 billion Br in the past seven months of the current fiscal year. Compared to this period last year, revenues have increased by 34.46 billion Br. For the current fiscal year, the Ministry intends to collect 253 billion Br - 65pc of the budget - from domestic tax revenues. In the last fiscal year, the Ministry collected 97.2 billion Br from domestic taxes out of the planned 235.7 billion Br in revenue, 83.7pc of its target.


Premier Pushes Domestic Drug Production

A six-day domestic pharmaceutical production and innovation expo was inaugurated by Prime Minister Abiy Ahmed (PhD) last week. More than 110 local pharmaceutical manufacturers participated at the Millennium Hall on Airport Road. Recently appointed Minister of Health Meqdes Daba (MD), said local production of pharmaceuticals has become a cornerstone of health policy, which received approval from the Council of Ministers a month ago. However, a report from the Global Fund For Health last year r...


AfDB Lauds $8m for Solar Mini-Grid

Around half a million people foresee benefits from the pilot mini-grid built across nine sites in Amhara, Oromia, Sidama, and the Southern regional states. African Development Bank Group has approved eight million dollars in finance to support the project under the Distributed Renewable Energy & Agriculture Modalities (DREAM) program. The DREAM project, with a total budget of 20 million dollars through concessional loans, grants, and risk mitigation, will cover half of the mini-grid capital...


Parliament Approves $275m Loan for Urban Project

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