Business & Finance

Council of Minister Endorses Over 386.9B Birr Federal Budget for 2019/20

Addis Ababa The Council of Ministers has endorsed more than 386.954 billion Birr budget for the 2012 Ethiopian fiscal year (2019/20), after discussing on a draft bill on federal government's budget, according to Office of the Prime Minister.

The Council in its 71st regular session held at Office of the Prime Minister Saturday, has decided that the federal government's budget for the upcoming fiscal year to be 386,954,965,289 billion Birr.

According to the draft budget, over 109.468 billion Birr is allocated for regular budget, while more than 130.710 billion Birr will be used for capital budget.

More than 140.775 billion Birr will be used to subsidize regional states, and some six billion Birr will go to the execution of the Sustainable Development Goals (SDGs).

The Council has referred the draft budget bill to the House of People's Representatives for approval.

Source: Ethiopian News Agency