Addis Abeba, june 7/2020 (ENA) The Council of Ministers has endorsed more than 476 billion Birr budget for the 2013 Ethiopian fiscal year (2020/21), after discussing on a draft bill on federal government’s budget, Office of the Prime Minister disclosed.
The Council, in its 84th regular session held on Saturday, discussed and passed decisions on various issues while it referred some to the House of Peoples’ Representatives (HPR) for approval.
After thorough deliberation, the Council approved more that 476.1 billion birr budget for the 2013 Ethiopian fiscal year and referred it to HPR for approval.
Of the total budget, over 133.321 billion birr is allocated for recurrent spending, and more than 160.329 billion birr for capital expenditure.
More than 176.361 billion birr has also been allocated to subsidize regional states, and 6.7 billion birr for the implementation of Sustainable Development Goals (SDG) projects.
The Council has referred the draft budget bill to the House of People’s Representatives for approval.
Ethiopia’s budget for the concluding budget year was 378 billion birr.
Moreover, the Council discussed on the loan agreement signed with the International Development Association (IDA) for project to prevent and control desert locust.
Recognizing the significant importance of the loan to control the locust, the Council of Ministers referred it to the House for approval, as it is interest free soft loan.
During its discussion, the Council also deliberated on international agreements signed with Rwanda and Djibouti on judicial cooperation and extradition of criminals, as well as the UN Convention on Contracts for the International Sale of Goods.
The council after thorough deliberation referred the agreements to the House of Peoples’ Representatives for approval.
The Council has also discussed and passed decisions on the implementing of regulations regarding the economic affairs, under the state of emergency enacted to help prevent and contain the spread of COVID 19 and ease its impact on the country.