Ethiopia approves supplementary budget

Ethiopia’s council of ministers have approved a supplementary budget of $877.87 million for 2019/2020 to finance economic reforms, as announced by the country’s Prime Minister, Abiy Ahmed, yesterday

The funds add to the 386.9 billion Birr of government spending that the Horn of Africa country approved in 2019.

Abiy, who took office in 2018, has embarked on ambitious economic reforms to open up one of Africa’s fastest-growing but most closed economies. It has already begun the process of privatising its telecoms, banking and sugar sectors.

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