BY MISGANAW ASNAKE
ADDIS ABABA – The Ministry of Planning and Development stated that the draft-budget allocated for 2022/2023 fiscal year would principally focus on consolidating the multi-sectors growth and stabilization of the national macro economy.
Planning and Development Minister, Fitsum Assefa (PhD) told local media that the budget approved by the Council of Ministers recently would focus on stabilizing the macro economy and multi sectoral development.
Of the aggregate approved budget for the fiscal year, 347.12 billion Birr was allocated for regular spending while Birr 218.11 billion was allocated for capital expenditure, she said.
After the promulgation of Ten Years nation’s Perspective Development Plan (2021 – 2030), it is facing local and international crisis such as pandemic, drought and war.
Hence, the budget for this fiscal year would focus on social and economic transformation, meeting sustainable development goals, boosting agriculture and industry as well as export products, she added.
The ten years perspective plan has prioritized a range of areas that foster multi-sectoral economic development including agriculture, manufacturing industry, mining, tourism, and information technology, and some 61 percent is allocated for development of these multi-sectoral economic avenues, she said.
As to her, 50 percent of the allocated regular budget would be used for debt reimbursement and macroeconomic stabilization.
Ethiopia has allocated 209 billion Birr subsidy for states, and the budget will contribute a lot to the effort exerted towards achieving the perspective plan under the umbrella of making the Ten Years Perspective Development Plan a success in the nation, she said.
The June 16/2022
