Parliament passes Budget
The Ethiopian News Agency reports that the House of People’s Representatives (HPR) approved on Tuesday the 2015/2016 budget.
The budget for the forthcoming year will be 223.3 billion birr (£6.9 billion; $10.7 billion) which is an increase of 20% on the previous fiscal year. The report states that 62.5% of the budget will be allocated for federal expenditure whilst 37.5% will go to Regional states and the two city administrations. Of the total budget 84 billion birr will be allocated for capital and 50 billion for regular expenditure.