Council endorses 137.8 bln birr for 2005 budget year

Addis Ababa, June 7 (WIC) - The Council of Ministers on Wednesday endorsed 137.8 billion birr federal government budget for the 2005 Ethiopian fiscal year

The budget will be used to carry out various projects and to provide subsidy for regional states as per the formula put in place by the House of Federation.

According to a statement from Office of the Prime Minister, the Council decided on the amount after holding thorough discussions.

Accordingly, more than 26.8 billion birr of the total sum is set aside for regular budget while over 54.4 billion birr is allocated for capital budget.

Over 36.5 billion birr of the budget would be used to subsidize regional states while 20 billion birr is earmarked to support activities being carried out to achieve the MDGs.

The Council referred the budget to the House of People’s Representatives for approval.