News: Parliament approves 90 bln ETB budget for ministry of defense

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Addis Abeba – The House of Peoples’ Representatives (HoPR) has today approved an additional budget of 122 billion ETB out of which the biggest budget allocation was made for the Ministry of Defense. The HoPR assigned 90 billion ETB for the Ministry of Defense while 5 billion ETB and 8 billion ETB were allocated for rebuilding war-torn areas and daily humanitarian assistance respectively. 

The parliament approved the additional budget with a majority vote, nine objections and seven abstentions. The budget will be allocated for national security, humanitarian assistance, rehabilitation of war and conflict victims, and other implementations, reports said. The parliament allotted 106 billion ETB for recurrent expenditure, 7 billion ETB for capital expenditure, and 9 billion ETB to cover expenses.

It is indicated that there is a need to allocate more budget due to the economic pressures in the war-torn areas and the inability to collect tax revenue on time due to Covd-19. A proposal was made to cover this additional budget and budget deficit from domestic loans. AS

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