ADDIS ABABA– Ministry of Finance has proposes 387 Billion Birr budget for next year, which is 1.6 percent higher than the current fiscal year.Out of the total budget 109 billion birr is to be allocated as regular budget, 130.7 for capital, 140 billion birr as budget subsidy for regional states while and 6 billion birr is allocated for the implementation of the Sustainable Development Goals.
Briefing members of the plan and budget affairs standing Committee of House of Peoples Representatives, State Minister of Finance Dr. Eyob Tekalgn said income from tax is estimated to be around 289 billion birr including aid and out of which around 224.8 billion incomes will planned to be collected from tax. Non tax income is expected to be around 28.2 billion birr said Eyob.
Compared to the last year performance next year the country’s growth is expected to be around 6.5 percent, Dr. Eyob elaborated. After the Council of Ministers has approved the budget it has passed it to the Ethiopian Parliament for final endorsement.
Last year, Ethiopia’s budget deficit was estimated to reach 3.5 percent of its GDP. For the current fiscal year 2018/19 Ethiopia economy is expected to grow by 8.5 percent, according to the International Monetary Fund (IMF).
The Ethiopian Herald, June 29/2019
BY HAILE DEMEKE
