Ethiopia Approved US$ 8.5 Billion Budget for 2013-14

Ethiopian Business News

Meeting of Ethiopian House of Peoples Representatives

Written by Meraf Leykun     

The Ethiopian House of Peoples Representatives approved 159.4 billion Ethiopian birr budget for fiscal year 2013-14.

The government will boost spending with 12 percent increase in its budget to support infrastructure development.

About one-third of the budget is allocated to upgrading roads, State Minister of Finance Abraham Tekeste told Bloomberg by phone from the capital, Addis Ababa. External sources account for about one-fifth of the 2013-14 budget.

The Ethiopian government is implementing the Growth and Transformation Plan, a  five-year economic development plan through 2015 in which it’s spending 569 billion birr on government projects.

Source: Bloomberg