Items filtered by date: Tuesday, 06 February 2018

Addis Ababa  February 06/2018 The January 2018 general year-on-year inflation has increased by 13.4 percent as compared to January 2017, Central Statistical Agency (CSA) disclosed.

The year-on-year food inflation increased by 18 percent in January 2018 as compared to same period last year.

According to the agency, the prices of most of the major cereals showed decline during the month under review. However, it added that, as compared to last month, increases were observed in other components such as meat, milk, cheese, eggs, oil, pulses, vegetables and fruits.

CSA believes that the big religious festivals in the month of January 2018 have contributed to the rise in the prices of the food items above.

Non-Food inflation has also increased by 8.4 percent in January 2018 as compared to same period last year due to mainly the rise in non-food items, it explained.

Published in Economy
Tuesday, 06 February 2018 21:03

Parliament Approves 14b Birr Additional Budget

Addis Ababa February 06/2018 The House of People's Representative today approved 14 billion Birr additional budget for the current Ethiopian fiscal year for the federal government.

 The government requested for additional budget as the two percent reserve has fully utilized for the deterrence of natural disasters that have occurred in parts of the country.

 Out of the total 14 billion Birr additional budget, one billion Birr is set aside for the Revolving Youth Fund, Genet Tadesse, Chairperson of the Budget and Finance Standing Committee of the House said while presenting her report to the House.

 Besides, 500 million Birr is earmarked to upgrade the enrollment capacity of the Addis Ababa University, she said.

 Some 300 million Birr is also allotted for the procurement of equipments for the country's digitalization program, which aimed to digitalize the broadcast system.

 Some five billion Birr will be used to support people affected by manmade and natural disasters, while the remaining 7.2 billion Birr is allocated for government institutions that face budget shortage in their efforts to attain their goals.

 Last July, the House has approved 320.8 billion Birr budget for the year that surpassed the previous year by 9.6 percent.

Published in Economy

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