The Council of Ministers has approved an 801.6 billion birr budget for the coming fiscal year – a meager two percent increase from the current year’s allotment.
The budget rise is a far cry from last year’s 40 percent growth when this year’s budget was approved, indicating a significant slowdown.
In real terms, the approved budget is actually much lower given the double-edged sword inflation exceeding 30 percent which erodes the value of the budget allocation.
