Posted by: APA Posted date : July 7, 2015
Copyright : APA
The Ethiopian national Parliament on Tuesday approved over 223.3 billion birr ($11.1 b) budget for the 2015/2016 fiscal year.The budget to be put away as of tomorrow increased by 17 percent compared to the previous year.
Over 62.5 per cent of the total budget will be channeled to the federal government, Meselech Wodajo, Budget and Finance Affairs Standing Committee Chairperson with the parliament said.
The remaining 37.5 percent will be extended to Regional States and the two City Administrations, she added.
According to her, over 84 billion birr ($4 billion) of the budget was allocated for capital and over 50 billion birr ($2.5b) for regular expenditure.
Some 71 percent of the federal government’s budget will be utilized for road, water, education, agricultural, health and rural electrification projects spending, she noted.