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Ethiopia’s parliament approves over $13.8b annual budget

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Ethiopia’s House of People’s Representatives on Friday unanimously approved the national budget of more than $13.8 billion, which is for the next Ethiopian budget year starting on July 7, 2017.Out of the total budget, more than $4.9 billion was allotted for capital expenditure, of which more than $3.4 billion, as well as $615.6 million and more than $869 million will be secured from the government treasury, donations and loans respectively.

More than $5 billion has been allocated to subsidize regional governments, while $301 million was earmarked for activities to achieve the Sustainable Development Goals (SDGs).

The new budget has seen an increase of nearly $2 billion or 16.9 percent, compared to the initial budget allocated for the just-ended fiscal year.

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