EAC heavyweight Ethiopia passes $13 billion budget


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Ethiopian lawmakers have approved a 13.6 percent increase in the country's budget for the 2016/17 fiscal year with most of the expenditure expected to go to infrastructure such as roads.

The 274.3 billion birr (about $13 billion) budget is geared towards stimulating economic development in the drought-hit country. Ethiopia's new budget cycle begins on July 8.

We will respond to every provocation it takes to destabilize us
On Tuesday the House of Representatives gave its approval to the budget where 105.7 billion birr was allocated to capital and 68.8 billion birr for recurrent expenditure.

Another 87.87 billion birr and 12 billion birr were allocated to the regions' as budget subsidies and for activities meant to help the country achieve sustainable development goals, respectively.

The government plans to spend 46.39 billion birr on roads and allocated another 39.8 billion birr to programmes meant to improve the education sector in the coming fiscal year.

Prime Minister Hailemariam Desalegn had told legislators that Ethiopia's economy will grow at a slower rate than originally projected this year.

He cited the impact of the El Nino induced drought, which has significantly affected the agricultural sector as one of the factors that would affect economic growth.

The government now expects a 8.5 percent economic growth for 2016. However, the projection is much higher than that of the International Monetary Fund (IMF) made earlier this year.

IMF said Ethiopia's economic growth would be "held back by a drought with growth projected to decline substantially to 4.5 percent" this year.

Over 10.2 million people are currently in need of food aid in the country, according to humanitarian agencies.

Hailemariam also used his parliament address, which was televised on national television, to warn Eritrea against threatening peace in the region. He said his government would continue to respond 'appropriately' to any provocation from Eritrea.

"We will respond to every provocation it takes to destabilize us," he told MPs, blaming Eritrea for the recent border skirmishes between the two countries.

He said Eritrea did that to divert attention away from the findings of a recent United Nations report, which accused officials in Asmara of committing crimes against humanity.
 
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Dhuks

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That is just slightly above half of Kenya's budget yet the population of the Ethiopians is double Kenya's population. compute your deductions
 
Geza Ulole

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Geza Ulole

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A heavyweight does not borrow from China n AfDB to support her budget! And still ending up having a 10% budget deficit on a budget she can not support from her own funds..
 
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Asante kwa kuifanya iwe Kenyan news, ila msiwe mnatumia maneno mazito pasipo stahiki. Heavyweight EAC ni mmoja tu mwenye bajeti ya $23b
Wengine wote ni flower girls.
Eti flower girls.....na haucheki?
Endeleeni kujipa misifa pretty soon you'll swallow your own words!
 
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A heavyweight does not borrow from China n AfDB to support her budget! And still ending up having a 10% budget deficit on a budget she can not support from her own funds..
Did you know even the Largest economy in the world-USA still borrows from the Bretton wood Institutions for example? ?? Please sometimes when you have nothing to say, Just keep your beak shut-"Even when a fool keeps quiet, He is deemed to be intelligent"
 
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I am curious to know what is so special btn Kenya and tz
 
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Eti flower girls.....na haucheki?
Endeleeni kujipa misifa pretty soon you'll swallow your own words!
Pretty soon kila siku mnatuambia pretty soon. Waliimba babu zenu na nyie mnaimba leo huku tofauti ikiendelea kutanua.
Pretty soon.
 
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A heavyweight does not borrow from China n AfDB to support her budget! And still ending up having a 10% budget deficit on a budget she can not support from her own funds..
Haya mambo huyajui ungenyamaza tu
Top 10 Countries the U.S. Owes Money To
Our percentage of national debt versus GDP is less than 60%. The world giants are faring worse, tell us Japan sio heavyweight because of its national debt
The 17 countries with the highest level of government debt

And nowhere has Kenya borrowed to support our recurrent budget, we borrow for growth and infrastructural projects
 
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Eti flower girls.....na haucheki?
Endeleeni kujipa misifa pretty soon you'll swallow your own words!
Hii "Pretty soon" yenu ni town enye iko wapi kwa map ya Tanzania? ??
 
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It seems to be rivalry .....
 
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A heavyweight does not borrow from China n AfDB to support her budget! And still ending up having a 10% budget deficit on a budget she can not support from her own funds..
Kenyans are greedy yes for SUCCESS So if we must take loans to support our untamed ambition that is phenomenal
 
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Something is wrong somewhere...Ethiopia(90million people) is now the largest economy in EA, yet their budget is a paltry $13 billion compared to Kenya's(50 million ple) $23 billion. Our budget is just 2-3 billion $$ short of that Nigeria...(150 milliom pple).Why do we still allow kids in some parts ok Kenya to study under trees?? and patient sharing beds or sleeping on the floors is hospitals?WE NEED TO AUDIT ALL CABINET SECRETARIES AND PSs...they sure are laughing all the way to the bank..
 
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A heavyweight does not borrow from China n AfDB to support her budget! And still ending up having a 10% budget deficit on a budget she can not support from her own funds..
It appears to me that u dont quite understand the distinction betwn a loan and a financial aid. Clearly to u, it is pretty much one and the same thing! (And I imagine u probably use both terms interchangeably).
That Kenya or any other country should "borrow" money, with the aim of meeting its development goals is shameful. To u, it indicates that that country is broke. How wrong u are!

Geza, the stronger and stabler the country is economically, the more likely it is bound to seek more funds to fructify its development goals in time, and the more willing both the local and the international creditors would be willing to give their money to such a country, for they are guaranteed that their money will be re-payed. In other words, the stronger a country is economically, the more creditworthy it becomes.
The countries with weak economies wouldnt be able to enjoy credits from many lenders cos many would be wary about their ability to repay back the loan.

WORLD CREDIT RATING ACCORDING TO STANDARD AND POOR....

600px-World_countries_Standard_%26_Poor%27s_ratings1.svg.png


It is quite appalling that u should take pride in Tanzania not seeking to borrow funds to meet its development objectives, and that u should this often deride Kenya for that. It doesnt imply that the one who borrows money is financially weak and the one who doesnt is financially stable, it is pretty much quite the opposite. Kenya borrows cos she can afford the loans.
Tanzania is a weak economy, not many creditors would be willing to lend her their money, lest it results into this.....

BBC News | BUSINESS | Tanzania gets $3bn debt relief

Now, with a reputation like that....which lenders would be willing to give their money to Tz? Any lenders that agree giving u their money know well that they are perhaps signing a death wish!
 
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Ethiopian lawmakers have approved a 13.6 percent increase in the country's budget for the 2016/17 fiscal year with most of the expenditure expected to go to infrastructure such as roads.

The 274.3 billion birr (about $13 billion) budget is geared towards stimulating economic development in the drought-hit country. Ethiopia's new budget cycle begins on July 8.

We will respond to every provocation it takes to destabilize us
On Tuesday the House of Representatives gave its approval to the budget where 105.7 billion birr was allocated to capital and 68.8 billion birr for recurrent expenditure.

Another 87.87 billion birr and 12 billion birr were allocated to the regions' as budget subsidies and for activities meant to help the country achieve sustainable development goals, respectively.

The government plans to spend 46.39 billion birr on roads and allocated another 39.8 billion birr to programmes meant to improve the education sector in the coming fiscal year.

Prime Minister Hailemariam Desalegn had told legislators that Ethiopia's economy will grow at a slower rate than originally projected this year.

He cited the impact of the El Nino induced drought, which has significantly affected the agricultural sector as one of the factors that would affect economic growth.

The government now expects a 8.5 percent economic growth for 2016. However, the projection is much higher than that of the International Monetary Fund (IMF) made earlier this year.

IMF said Ethiopia's economic growth would be "held back by a drought with growth projected to decline substantially to 4.5 percent" this year.

Over 10.2 million people are currently in need of food aid in the country, according to humanitarian agencies.

Hailemariam also used his parliament address, which was televised on national television, to warn Eritrea against threatening peace in the region. He said his government would continue to respond 'appropriately' to any provocation from Eritrea.

"We will respond to every provocation it takes to destabilize us," he told MPs, blaming Eritrea for the recent border skirmishes between the two countries.

He said Eritrea did that to divert attention away from the findings of a recent United Nations report, which accused officials in Asmara of committing crimes against humanity.
Economic heavyweight?

This is one mathematics the Tanzanians here do not quite understand.

Google

tanzania gdp per capita - Google Search

Those are the WB data. Just run your cursor along the lines on the graphs to find out who in fact is the region's big boy....
 

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