Council Approves ETB27.9 billion Supplementary Budget

The Council of Minister approved a supplementary budget of ETB27.9 billion to implement different programs in the next six months.

Of the total supplementary budget, ETB18 billion will be used to implement corrective policy measures targeted at solving macroeconomic problems in line with the home-grown economic reform plan.

Two billion Birr of the budget bill is allocated to implement safety net programs. The remaining ETB7.9 billion is expected to cover salary expenditures for the next half a year.

While the budget bill is sent to the parliament for legislation, it is expected to raise the budget deficit of the country to ETB126 billion, which is ETB26 million higher than last fiscal year.

For the current fiscal year, the parliament approved ETB386.9 billion budget.