Council approves 179 bln Br budget bill

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Addis Ababa, 5 June 2014 (WIC) - The Council of Ministers has passed a budget bill today, which comprises a federal budget for the 2014/15 fiscal year at 179 billion birr.
The proposed budget bill showed a significant increase from the current fiscal year budget which stood at 150 billion birr.

Close to 70 billion Br of this budget is earmarked for capital expenditure, while recurrent spending is at 45 billion Br. The Council has also agreed to earmark 51 billion Br to go into subsidizing regional governments, and an additional 15 billion Br is slotted to pay for programs under the MDGs.

The bill would have to be approved by the House of People’s Representatives before it becomes the federal government budget for next fiscal year. (Addis Fortune)