City Cabinet approves 100 bln Birr budget for 2022/23 fiscal year
The Addis Abeba City Administration Cabinet has approved a budget of 100.05 billion Birr for the 2022–2023 Ethiopian fiscal year. The upcoming fiscal year will begin on July 8.
The proposed expenditure plan was approved by the Cabinet during its eleventh regular meeting of its first term on Tuesday, June 28, 2022.
Adanech Abiebie, Mayor of Addis Abeba said that the total budget had increased by 41.6% when compared to the expenditure for the fiscal year that just ended.
Capital expenditures would account for at least 54.87 billion Birr, or 54.4%, of the recently approved budget, according to Adanech.
Additionally, the city government has put aside 41.31 billion Birr for ongoing expenses, with the remaining 3.87 billion Birr allocated as a reserve expense.
The budget allocation was done with a focus on areas that will be given priority by the federal government and the administration in the upcoming fiscal year.
The budget’s preparation has given much emphasis to the construction of infrastructure, industrial, and innovation sectors, a statement from Mayor Office of Addis Abeba reads.