Ethiopian New Year Budget
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Ethiopian new year budget. The Ethiopian calendar is based on the Coptic calendar. Until Form 31 is received spending public bodies are authorized to spend one-twelfth of the previous years budget with no provision for new expenditures eg new staff posts. The story goes back almost 3000 years to the Queen of Sheba of ancient Ethiopia and Yemen who was returning from a trip to visit King Solomon of Israel in Jerusalem as mentioned in the Bible in I Kings 10 and II Chronicles 9.
Ethiopian new year is called Enkutatash in the Amharic language spoken in Ethiopia. Ethiopias total budget for the fiscal year started July 8 2019 was 3869 billion birr 1348 billion at the exchange rate of one year ago June 2019. More comprehensive and analytical budget documentation submitted to the Economics Committee.
In the long-term the Ethiopia Government Budget is projected to trend around -350 percent of GDP in 2022 and -300 percent of GDP in 2023 according to our econometric models. Ethiopia has a dual budget system with capital and. Addis Ababa July 5 2021 FBC The House of Peoples Representatives in its 4 th especial session has approved the 56167 Billion Birr draft budget the Council of Ministers referred to it last month.
The spending planned for the new fiscal year which started July 8 shows only a 2 percent increase in nominal. Form 31 is sent to the Treasury Department of the ministry of finance which disburses funds to spending public bodies. The Federal Budget is hereby appropriated for the fiscal year commencing on Hamle 1 2013 EC.
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