- Two-thirds of spending will be on poverty reduction programs
- New premier trying to check unrest, keep up economic momentum
By Nizar Manek, 16 July 2018
Ethiopia’s parliament passed a 346.9 billion birr ($12.6 billion) budget, about two-thirds of it poverty reduction programs involving health, education and food security, as the Horn of African nation tries to quell unrest while sustaining the momentum of the continent’s fastest-growing economy.
In televised comments, Prime Minister Abiy Ahmed described the budget as “pro-poor” and said the government still needs $7.5 billion to finish so-called mega projects, including sugar factories and the Grand Ethiopian Renaissance Dam. As a result, it won’t begin new projects in the 2018-19 fiscal year, he said.