The city administration of Addis Ababa recently held a meeting to discuss the budget for the upcoming fiscal year 2025. This was the 13th regular cabinet meeting.
The cabinet discussed the medium-term expenditure framework for fiscal years 2015 to 2027. For the upcoming financial year 2025, the city administration aims to generate significant funds through various revenue sources. The target amount they have set is 230.39 billion birr.
The city administration allocated over 60% of the total budget for capital expenditures. It primarily targeted key sectors and growth-oriented areas identified in its plan for this budget allocation.
Since Addis Ababa generates its budget through income tax revenue, the administration emphasized fully utilizing the city’s revenue potential from this income tax source.
The mayor’s office provided information indicating they have made a decision. They will support and monitor institutions that pay attention to improving their revenue collection systems. This aims to enhance revenue generation processes within the city as per the recent update from the Ministry of Revenue, they couldn’t achieve the target of revenue.
Last month, the Ethiopian Ministry of Revenue announced that in the last 10 months of the fiscal year, it collected more than 425 billion birr. It seized over 11 billion birr worth of goods that were being brought into the country illegally. The revenue minister, Mrs. Aynalem Niguse, said that the target was 442.85 billion birr for 10 months, but they managed to collect 425.27 billion birr. Read More…
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