Revenue, Budget, and Finance Standing Committee of the House of Peoples Representatives discussed with Officials of Finance Ministry on next fiscal year budget appropriation and related issues.
Minister of Ministry of Finance, Dr. Eyob Tekalign briefed the standing committee that next year’s budget appropriation is based on lessons drawn from the execution of the already concluded fiscal year.
The 2020/2021 budget allocated by the government has taken in the current coronavirus pandemic in the country into consideration, and aimed to further transform better results registered in the economic sector, Dr. Eyob said.
Of the total budget, 160.3 billion birr is allocated for capital expenditure, 133.3 billion birr for recurrent spending, 176 billion birr to subsidize regional states, and 6 billion birr for Sustainable Development Goal (SDG) projects, Dr. Eyob explained.
The budget has shown an increase compared to the already concluded fiscal year, according to the Ministry of Finance.