The Addis Ababa City Administration has approved a record high 140.2 billion birr budget for the fiscal year starting July 8, 2023 – an increase of 40.2 percent from the current year’s budget.
“The city’s budget is expanding so fast. It was not more than 30 billion birr in recent years,” said Adanech Abiebie, mayor of the capital city, addressing members of the city council during a session held yesterday.
In the last 11 months, the city administration collected a tax of 100 billion birr, achieving over 100 percent of the target and 49 percent up from the same period last year.
– Advertisement –
Under the approved budget, 42.1 billion birr will go to the city’s sub-cities while 98.1 billion birr is allocated for offices under the city administration.
Capital expenditure accounts for the biggest share of the budget at 55.6 percent, with the remainder allocated for recurrent costs.
#Addis #Ababa #Approves #Record #High #140.2b #Budget #Year #Reporter #Latest #Ethiopian #News #Today