Council of Ministers Approves Nearly 1 Trillion Birr Draft Budget 

Addis Ababa, June 7/2024(ENA) The Council of Ministers has referred today a close to 1 trillion Birr draft budget for the upcoming Ethiopian fiscal year.

In its 34th regular session, the council unanimously approved the proposed 2017 Ethiopian fiscal year or 2024/25 budget, it was learned.

The budget referred to the House of People's Representatives is in tune with the Ten-year Prospective Development Plan and the 2017-2021 medium-term macroeconomic and fiscal framework.

Moreover, the budget was prepared based on the performance report of  the just ended 2016 federal government program budget and by taking into consideration the government's financial capacity and expected revenues as well as expenses required by executive offices.

The council also deliberated on the proclamation for the establishment of a special fund for Green Legacy Initiative and rehabilitation of degraded land as well as a decree to determine its governance.

The draft decree was similarly referred to the House of People’s Representatives.

Finally, the council discussed the proposed draft regulations to determine fees for services provided by the Petroleum and Energy Authority and the Ethiopian Coffee and Tea Authority.

The regulations believed to fundamentally improve quality of services were approved by the council to became effective from the date of publication on Negarit Gazette.