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Ethiopian Parliament Approves Budget for Next Fiscal Year
Ethiopian House of Peoples' Representatives has approved the country's budget for next fiscal year, local press reported on Friday.
According to the approved bill, about 1.8 billion U.S. dollars has been allocated for the budget year, of which the federal government's recurrent and capital budget constitute 867 million and 361 million dollars respectively.
The report said that 566 million dollars of the total budget will be given to regional states in subsidy.
The bill stipulates that the stated amount of money is envisaged to be secured from the federal government's treasury as well as from grants and loans of international donors.
The educational, roads, transport and the agricultural sub- sectors will take the lion share's of the capital budget, as the government attaches due importance to the human resources development and construction of infrastructures.
The budget allocated for the defense has significantly been reduced while the subsidy for the regional states increased when compared to the last few years' budget allocation.
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