Nation Earns 100 Billion Birr Revenue in First Quarter

Addis Ababa, November 14/2023 (ENA): Prime Minister Abiy Ahmed announced that some 100 billion birr in revenue had been secured during the first quarter of the current Ethiopian fiscal year. 

The premier made the remark in his response to questions forwarded to him by members of parliament during the 4th regular session of the House of People's Representatives (HPR) today. 

On the occasion, Abiy said that some 100 billion Birr in revenue had been secured during the first quarter of the current Ethiopian fiscal year.

The amount of revenue earned during the stated period has a 12 percent increment compared to the previous year's same period, he added.     

Ethiopia’s revenue has been increasing from time to time, Abiy said, stressing the need for more efforts in order to secure better revenue, as the potential of the country is huge in this regard. 

Noting that the nation netted 407 billion birr in revenue during the previous fiscal year, the premier said efforts are underway to collect 520 billion birr in revenue in the current budget year.  

The nation’s total expenditure during the first quarter was 141 billion Birr. The expense made in three months has an increment of 20 percent compared to the previous year's same period. 
The premier stated that Ethiopia is one of the few countries in Africa and around the world that are registering fast economic growth. 

Ethiopia’s GDP has now reached about 164 billion USD, up from about 84 billion USD five years ago.    

The per capita income has also reached 1549 USD from 882 USD five years ago, which registers double growth, he added. 

The nation has set a target of increasing overall economic growth to 7.9 percent by strengthening the efforts being made in multifaceted sectors.