ADIS ABEBA, June 11 (Xinhua) – Ethiopia aims to achieve nine percent economic growth in the next fiscal year 2019/20, which begins July 8, the Ethiopia Broadcasting Corporation (EBC) said on Tuesday.
EBC reported that Ahmed Shide, Minister of Finance and Economy (MoFE), said that Ethiopia intends to increase the efficiency of government agencies in terms of using their budgets to achieve the economic growth target of nine percent in 2019/20.
Shide said that Ethiopia also aims to boost growth in 2019/2020, with better tax collection systems and improved macroeconomic conditions in the country.
On Saturday, the Ethiopian Council of Ministers approved a budget of $ 13.45 billion for the fiscal year 2019/2020.
The budget bill of $ 13.45 billion 2019/2020 is expected to be reviewed by the lower house of the Ethiopian parliament, Standing Committee on Budgetary Affairs and Finance, before being handed over to parliament for approval.
The 2019/2020 budget bill should meet the necessary requirements of regional governments as well as the effective implementation of the federal government for Ethiopia's second Growth and Transformation Plan (GTP II), effective from 2015 until the end of 2020 .
Priority areas of the Ethiopian government during GTP II include infrastructure, education, agriculture, water and health.