Ethiopia aims to achieve 9 pct economic growth next fiscal year

Source: Xinhua| 2019-06-11 22:45:01|Editor: Mu Xuequan
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ADDIS ABABA, June 11 (Xinhua) -- Ethiopia aims to achieve nine percent economic growth in the next fiscal year 2019/20, which starts on July 8, state media outlet Ethiopia Broadcasting Corporation (EBC) reported on Tuesday.

EBC reported that Ahmed Shide, Minister of Finance and Economy (MoFE), said Ethiopia aims to increase the efficiency of government bodies in terms of utilizing their budgets to achieve the nine percent economic growth target in 2019/20.

Shide said Ethiopia also aims to boost the growth in 2019/2020, with better tax revenue collection systems and improving the country's macroeconomic conditions.

On Saturday, the Ethiopia Council of Ministers approved a 13.45 billion U.S. dollars budget for the 2019/2020 fiscal year.

The 13.45 billion U.S. dollars 2019/2020 draft budget bill is expected to be scrutinized by the Ethiopian parliament's lower house, Budget and Finance Affairs Standing Committee before being tabled to the parliament for approval.

The 2019/2020 draft budget bill is expected to fulfill the regional governments' necessary requirements as well as for the federal government's effective implementation for the second Growth and Transformation Plan (GTP II) of Ethiopia, due effective from 2015 to end of 2020.

The Ethiopian government's priority areas during the GTP II include infrastructure, education, agriculture, water and health.