Ethiopian Government set a 1.2 Billion Birr Budget to rebuild Tigray region. In addition, the Gov't has also negotiated with the World Bank to get $200 million (USD),that is about 8 billion birr, for the same project purpose, that is to rebuild Tigray.
The Finance minister, Ahmed Shide, speaks today for the Ethiopian parliament meeting on the new Ethiopian National Budget.On his speech he disclosed that the Government has determined to rebuild Tigray in all sectors. Ahmed Shide has also explained about the last year’s Economy of the country and on what the future looks like.
According to the minister's report,Ethiopian economy in the last Covid-19 year, even though there were serious national and natural problems, the country could achieve 6.2% economic development. Regarding the coming budget year, the minister says it is a bright future and this is not only confirmed with their office's analysis but according to International Financial Institutions predictions, Ethiopia will score better growth rate.
At last, the parliament members asked him about the current challenge of Inflation and the possible solutions that the Government is proposing. Concerning inflation challenges,the minister confirmed to the parliament that his Government is working strongly to get inflation down to a single digit by the coming budget year. Ethiopian New Budget will be functional from September. End of June is the current year's budget closing month.
It was last week that Ethiopia awarded its first private telecom licence to Global telecom companies.The Prime Minister Abiy Ahmed has disclosed, two years back, as it is his plan to open up Ethiopia's state controlled economy to the private sector. Many investors have a great interest to invest in Ethiopia’s 109 million peoples economy with favourable landscape and weather.
Currently, the ‘talk of the city’ in Ethiopia is election.Ethiopians will vote to elect their parliament representatives on June 21,2021. About 40 million Ethiopians are registered to vote. The National Election Board is an independent institution in Ethiopia which earns a lot of confidence by both the people and the opposition parties. Therefore, many are witnessing the coming election of Ethiopia as a unique and fair election in modern history of the country.