Ethiopian Council of Ministers Approved Record High Budget for 2020/21 YearBy Staff ReporterMay 26, 2020 (Ezega.com) -- The Ethiopian Council of Ministers approved a record-high 470 billion Birr annual budget for the next Ethiopian year starting from July 8, 2020. The new budget has seen a nearly 17 percent rise compared to the budget allocated to this year. The council referred the new budget bill to the House of Peoples of Representatives for approval. The government envisages securing about 20 percent of the total budget from local and external loans amounting to 100 billion. All the cases are Ethiopian nationals, with the youngest being 15 years old and the oldest 70 years, the statement indicated.

Source: Ethiopian News May 27, 2020 03:22 UTC