Addis Ababa, Ethiopia (26 June 2022)
The Addis Ababa City Administration Cabinet has approved a budget of 100.05 billion Birr for the Ethiopian fiscal year 2022–2023, which will begin on July 8.
The proposed expenditure plan was approved by the Cabinet during its eleventh regular meeting of its first term today. Adanech Abiebie, the mayor of the city of Addis Ababa, reported that the total budget had increased by 41.6 percent when compared to the spending for the fiscal year that just ended.
According to Adanech, capital expenditures would account for at least 54.87 billion birr, or 54.4%, of the recently approved budget.
Additionally, the city government has put aside 41.31 billion birr for ongoing expenses, with the remaining 3.87 billion birr designated as a reserve.
The budget allocation was done with a focus on areas that will be given priority by the federal government and the administration in the upcoming fiscal year.
According to the city’s communications office, the budget’s preparation paid particular attention to the infrastructure, industrial, and innovation sectors.
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