The Addis Ababa City Council approved a Birr 230.39 billion budget for the city’s administration in the current fiscal year. This decision was reached after the council’s fourth regular meeting, which concluded yesterday with the approval of various appointments.
The budget dedicates Birr 146.48 billion for capital expenditure, Birr 74.5 billion for regular expenditure, and sets aside Birr 9.4 billion as a reserve. Revenue is expected to come from a mix of sources, including taxes, non-tax revenue streams, municipal revenue, road funds, foreign loans, and assistance.
Mayor Adanech Abebe revealed that a significant portion, 90.4%, is dedicated to sustainable development projects geared towards poverty reduction and economic growth. The previous fiscal year saw the city collect Birr 146.8 billion which funded over 18,000 projects and corridor developments.
Key focus areas for the fiscal year include corridor development, communal housing construction, potable water access, and job creation. Additionally, efforts will be made to modernize transport service delivery and enhance human resource capacity.
Source: Addis Zemen
