"A Long Way Gone"

Saturday, 20 July 2013 01:41 Published in Art & Life

"A Long Way Gone" is a memoir of Sierra Leonean Ishmael Beah, published in 2007. It tells the intriguing story of the author’s journey, from a humble citizen and a boy solider to a rehabilitated adult, through the dark days of Sierra Leone when the decade long civil war tore the country.

Nerses Nalbandian

Friday, 19 July 2013 19:56 Published in Art & Life

Around 80 years ago, Ras Teferi visited an Armenian Monastery in Jerusalem and met 40 orphans who had escaped the genocidal atrocities they were subjected to in Turkey. Ras Tefari, who had a magnificent knack for art, obtained permission from the Armenian Patriarch to bring them all to Ethiopia. Then the “Arba Lijoch” (The 40 Orphans) became the Nation’s first official orchestra under Kevork Nalbandian who was Narses Nalbandian’s uncle.

1. Nelson Mandela wrote in his autobiography, “Ethiopia always has a special place in my imagination and the prospect of visiting Ethiopia attracted me more strongly than a trip to France, England, and America combined. I felt I would be visiting my own genesis, unearthing the roots of what made me an African.”

The 2013/14 Federal Budget

Wednesday, 17 July 2013 21:00 Published in Statistics

Allocation of the 2013/14 federal budget
Source: MoFED, Illustration by EBR

The house of peoples representatives has approved a total budget of ETB 154.9 billion for the 2013/2014 fiscal year (2006 EFY). From which a substantial amount of it, ETB 64.3 billion, which is about 41.5 pct of the total budget is allocated to capital expenditures. Whereas the budget subsidy to regional states is the next biggest share amounting ETB 43.1 billion or 37.5 pct of the total budget. The additional 21 pct goes to the recurrent budget ETB 32.5 billion, and to the Millennium Development Goals (MDGs) ETB 15 billion.

Source of revenues for the 2013/14 federal budget
Source: MoFED, Illustration by EBR

The federal budget is proposed taking in to consideration the expected revenues of the fiscal year. For the next 2013/14 fisical year the government plans to collect a total of ETB 138.3 billion, which is about 76.6 pct of the aproved budget.

It is expected that ETB 105.9 billion will be collected from domestic revenues, from which ETB 100.3 billion will come through taxes and ETB 5.6 billion from non tax revenues. Whereas a total of ETB 32.4 billion is expected to come from international sources through project grants, loans and supports from partners.

Industry Zones, One at a Time

Wednesday, 17 July 2013 20:28 Published in Investment

Worku Girma spent nearly two years looking, unsuccessfully, for work after graduating in Law from Wollega University, one of the recently established higher institutions in the country. Back then, he would probably never have imagined that he would be a designer at a shoe factory for a Chinese company. Yet, that was what happened after he completed three weeks of training the company gives for new employees. He currently works for Huajian International Shoe City, which is one of the companies nested in the Eastern Industrial Zone.

If you go to Mesalemiya, near Africa’s largest open air market Merkato, you likely find yourself dodging cars, pedestrians, donkeys and carts struggling to reach their destinations. And adjacent to this world where traders and buyers barter loudly all day and grain is unloaded from dusk till dawn; you will also come upon the entrance gate for Ethiopia’s only public mental hospital, Amanuel Specialized Hospital.

The Federal Budget Growth Trend

Wednesday, 17 July 2013 18:11 Published in Statistics

The growth trend of the federal budger from 2008/09 to 2013/12
Source MoFED, Compilation and Illustration by EBR

Ethiopia’s federal budget over the last five years has shown an average increase of 20 pct. In 2009/10 and 20010/11 the budgets grew nearly 20 pct to ETB 64.5 and ETB 77.2 billion respectively.

At the first year of the GTP the federal budget has leaped to ETB 117.8 billion recording remarkable growth of almost 40 pct. In the previous year the budget has increased to 137.8 billion with 13.6 pct growth. Similarly the next year’s 2013/14 proposed budget has shown a 12.3 pct growth.

Robert Collier

Wednesday, 17 July 2013 17:47 Published in Quote

The great successful men of the world have used their imagination... they think ahead and create their mental picture in all it details, filling in here, adding a little there, altering this a bit and that a bit, but steadily building - steadily building.

Robert Collier (1885-1950)
American writter, famous for his self help books and new thoughts of meta physics

We are only left with a huge burden….

Wednesday, 17 July 2013 17:45 Published in Quote

Photo: insideethiopia.com

Teklewold Atnafu, governor of the National Bank of Ethiopia, was referring to the pressure that the governmental financial institution, Commercial Bank of Ethiopia (CBE), has been put under due to the new housing development project financing it was mandated to accomplish by the government, at the First National Business Conference which was held at the United Nations Economic Commission for Africa (UNECA) on June 27, 2013. Teklewold, in his response to a question about the possibility of the crowding out effect that the mandate that was given solely to CBE to handle the financial end of the new public housing scheme will have on private banks, also said that the investment is too huge to be handled by private banks (more than ETB 60 billion), and he didn’t think that it would be profitable for private banks to provide mortgage loans of 90 pct, that will mature after twenty years for a mere 7.5 interest rate, half the industry average. He also said no complaint had been forwarded from the private banks on the issue. Also present at the Forum was Prime Minister Hailemariam Desalegn along with ministers and Mulu Solomon, president of the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA).

Prominent athletic victories by their athletes have made Ethiopians stand tall. People from all walks of life have come together to celebrate these heroes and watch the national flag be lifted high. Thanks to recent athletic accomplishments, Ethiopia has started being recognized for enduring runners and captivating stories instead of famine and poverty.

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