Ethiopian lawmakers on Tuesday approved the government’s plan to increase spending by an additional 581.98 billion Ethiopian birr ($4.8 billion) for the 2024\/25 fiscal year, a parliament broadcast showed.<\/p>\n
The extra spending approved by cabinet last week, supplements the already announced expenditure of 971.2 billion birr for 2024\/25, marking a 21% increase from the previous year. Ethiopia’s fiscal year begins on July 8 and ends on July 7.<\/p>\n
Finance Minister Ahmed Shide told lawmakers that a portion of the additional funds would be allocated to subsidise costs of fertiliser, oil, fuel, and medicine.<\/p>\n
The East African nation is coming out of several economic shocks including the impact of the COVID-19 pandemic, a devastating two-year war in the northern Tigray region, and extreme weather events.<\/p>\n
It secured a four-year, $3.4 billion programme from the International Monetary Fund shortly after floating its currency on July 29. This move laid the groundwork for a long-awaited debt restructuring.<\/p>\n
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Ethiopian lawmakers on Tuesday approved the government’s plan to increase spending by an additional 581.98 billion Ethiopian birr ($4.8 billion) for the 2024\/25 fiscal year, a parliament broadcast showed. The extra spending approved by cabinet last week, supplements the already announced expenditure of 971.2 billion birr for 2024\/25, marking a 21% increase from the previous […]<\/p>\n","protected":false},"author":1,"featured_media":14237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":6,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,32,2362],"tags":[3508,114],"class_list":["post-14236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-economy","category-featured","tag-ahmed-shide","tag-ethiopia"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/14236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=14236"}],"version-history":[{"count":0,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/14236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/14237"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=14236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=14236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=14236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}