Ethiopia’s economy will grow by 7.9 percent next year

Shide, while presenting the Union Budget Bill in the Twenty-Fourth Ordinary Session of Parliament, explained that the country’s economy has grown at an average of 6.1 percent in recent years, and it will be 7.5 percent in the current period.

This set of measures related to production, goods and services was proposed based on the assumption that post-crisis return to normal and healthy levels, and tighter monetary and fiscal policy measures were encouraged. Government, he noted.

Similarly, it shows an unadjusted budget deficit of more than five thousand 166 million dollars.

On the other hand, the minister said that he plans to collect more than eight thousand 89 million dollars from the more than nine thousand 670 million dollars that the central government expects to receive in the budget plan.

After the council deliberates on the proposed budget, it is sent to the Standing Committee on Planning, Budget and Finance for detailed scrutiny.

The Council of Ministers last Tuesday approved a budget proposal of more than 14,707 million dollars for the fiscal year 2023/24, which plans to help people displaced by the conflicts.

The Prime Minister’s Office said the amount for the period was prepared from the perspective of maintaining the nation, caring for citizens affected by man-made disasters and rebuilding conflict-damaged infrastructure.

Similarly, 2023-2027 is prepared based on the medium-term economic and financial framework and seeks to achieve the directions and objectives of possible social and economic transformation in the future.

In the budget approved during the twenty-first regular session of the House, more than six thousand and 781 million dollars are allocated for regular expenditures of the federal government, more than three thousand and seven hundred and forty million dollars for capital expenditures and three thousand and nine hundred and twenty-seven million dollars. Support regional states.

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More than $256 million will be used to implement the Sustainable Development Goals.


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