Ethiopian Business Review

Since the legislation went into effect in 2000, exports under the African Growth and Opportunity Act (AGOA) have increased by more than 500 pct, from USD8.15 billion in 2001 to USD53.8 billion in 2011. About 90 pct of these exports has  been oil, which underscores Africa’s growing strategic importance to the United States.

Published in Statistics
Read more... 0

In Birr is the amount of money collected from the public, out of the pledged 10.2 billion for the construction of the Grand Ethiopian Renaissance Dam (GERD), as reported by the National Council for the Coordination of Public Participation. The collected money has covered 23pct of the expenses so far. The report by the Council, which held its annual meeting, which was closed to the media other than the public owned Ethiopian Television at Sheraton Addis on August 2, 2013, stated that 24pct of the construction of the project is completed. This progress was 13pct last year at this time. By the end of August, the progress of the construction of the dam is planned to be 26pct. GERD, whose construction started on April 2, 2011, will have a power generation capacity of 6000MW and will consume USD4.8 billion upon completion in 2017.

Published in Statistics
Read more... 0

Allocation of the 2013/14 federal budget
Source: MoFED, Illustration by EBR

The house of peoples representatives has approved a total budget of ETB 154.9 billion for the 2013/2014 fiscal year (2006 EFY). From which a substantial amount of it, ETB 64.3 billion, which is about 41.5 pct of the total budget is allocated to capital expenditures. Whereas the budget subsidy to regional states is the next biggest share amounting ETB 43.1 billion or 37.5 pct of the total budget. The additional 21 pct goes to the recurrent budget ETB 32.5 billion, and to the Millennium Development Goals (MDGs) ETB 15 billion.

Source of revenues for the 2013/14 federal budget
Source: MoFED, Illustration by EBR

The federal budget is proposed taking in to consideration the expected revenues of the fiscal year. For the next 2013/14 fisical year the government plans to collect a total of ETB 138.3 billion, which is about 76.6 pct of the aproved budget.

It is expected that ETB 105.9 billion will be collected from domestic revenues, from which ETB 100.3 billion will come through taxes and ETB 5.6 billion from non tax revenues. Whereas a total of ETB 32.4 billion is expected to come from international sources through project grants, loans and supports from partners.

Published in Statistics
Read more... 0