Ethiopia Council of Ministers Approves $13 Billion Draft Budget

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Ethiopia’s Council of Ministers approved a 561.7 billion birr ($13 billion) draft budget for the coming fiscal year, which begins on July 8.

That’s an 18% increase on the 476 billion birr announced in June 2020, as reforms including privatization and improved revenue collection took shape.

“Due attention is given to enhancing our productive capacity in line with the 10 year perspective plan, laying the foundation for Ethiopia’s inevitable prosperity!” Prime Minister Abiy Ahmed said Saturday in a statement on his Twitter account.

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