Thursday, February 2, 2023
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BusinessBUDGET BREAKDOWN

BUDGET BREAKDOWN

With the current Ethiopian fiscal year ending on June 30, the last few weeks in the month of June are usually when the details of spending plan for the upcoming fiscal year is revealed to the House of Peoples’ Representatives (HoPR). Keeping up with that timetable, Abraham Tekeste (PhD), finance minister of Ethiopia, presented his budget speech to HoPR last Thursday. This budget bill came weeks after the report of the Auditor General indicating that billions of birr allocated through the budget bill of 2008 EC has been mismanaged by several federal agencies in Ethiopia. Regardless, Abraham heralded a 320 billion birr budget plan which is 17 percent higher than the budget approved for the current fiscal year. For detailed breakdown of the proposed budget figures and historical trend analysis of the budget instrument in Ethiopia,

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