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| Meeting of Ethiopian House of Peoples Representatives |
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
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