KEYIR NEWS:- Finance Minister Ahmed Shide disclosed to lawmakers that Ethiopia requires close to 1.5 trillion Br to complete public projects already approved by the House of People’s Representatives. He made the statement during a presentation to Parliament addressing queries on the proposed 1.93 trillion Br federal budget for the 2018 fiscal year.
Appearing before the House this week, Ahmed noted the need to prioritise the completion of ongoing projects over the initiation of new ones. “The pressure on public expenditure is historically high due to the ongoing economic reform,” said the Minister. He emphasised that fiscal discipline will be critical in aligning spending with strategic priorities.
According to the Minister, an additional 100 billion Br would be required to execute projects that have not yet secured legislative approval. He indicated that the government is undertaking measures to enhance domestic revenue mobilisation during the new fiscal year, to narrow the gap between growing demand for public services and limited financial resources.
The 2018 draft budget, tabled earlier this month, marks a 17.6pc increase from the previous year’s 1.64 trillion Br allocation. It reflects the government’s renewed focus on infrastructure, education, and social development programmes, while navigating tight monetary policy and inflationary pressures.
Ahmed’s remarks come amid heightened scrutiny over public sector performance and project delays. Observers say improved budget execution and governance will be key in managing the economic transition and rebuilding investor confidence.
The House of People’s Representatives is expected to debate and approve the final version of the draft budget before the end of the current parliamentary session. The government aims to balance fiscal consolidation with continued investment in productivity-enhancing sectors.