Council approves over 581 Billion Birr Supplementary Budget

Addis Ababa November 21/2024 (ENA) The Council of Ministers, in its 40th regular session, has approved a supplementary budget of 581,982,390,117 Birr to address additional budgetary needs and cost adjustments for the ongoing 2024/25 Ethiopian fiscal year.

The council discussed the budget in detail and unanimously decided to refer it to the House of Peoples’ Representative for approval.

The Council of Ministers also passed decisions on other multiple draft bills, according to the Office of the Prime Minister.

Initially, the Council deliberated on a draft bill of the Medium-Term Macroeconomic and Fiscal Framework for the period 2024-2025, which will guide the implementation of macroeconomic and fiscal reforms as part of the second phase of indigenous economic reform.

According to a statement released by the Council of Ministers, the Council has unanimously approved a medium-term macroeconomic and fiscal framework. This framework will inform the 2024/2025 federal government supplementary budget and expenditure adjustments.

Acknowledging this supplementary budget aligns with the recently approved framework and addresses additional budgetary needs and cost adjustments, the Council passed a decision unanimously that the policy to become effective with additional inputs.

Next, the Council of Ministers discussed the federal government's supplementary budget and expenditure adjustment proclamation. The supplemental budget and expenditure coverage adjustments have been prepared taking into account the government's financial capacity and expected revenues, additional budget and expenditure considerations in order to enable the implementation of the revised 2024-2029 medium-term macroeconomic and fiscal framework.

Moreover, the Council discussed a bill establishing the Institute of Certified Accountants in Ethiopia. This institute aims to develop a robust system of financial reporting and presentation in both the public and private sectors by producing highly qualified professionals.

After extensive discussion, the Council of Ministers referred it to the House of People’s Representatives (HPR) for approval. 

The Council also deliberated on the Solid Waste Management and Disposal Bill, which seeks to address the environmental and health risks posed by solid waste, particularly in light of the country's Green Legacy initiative and corridor development projects.

According to the statement, key measures include prohibiting the import of single-use plastic products and establishing a comprehensive system for solid waste collection, transportation, storage, reuse, recycling, and disposal with community and stakeholder involvement.

Then the bill was referred to the House of People’s Representatives for approval. 

Furthermore, the Council discussed a regulation amending the establishment rules of the National Rehabilitation Commission, it stated, noting that this amendment is necessary to enable the Commission to effectively fulfill its legal mandates and responsibilities.

Therefore, the Council decided to implement the regulation effective its date of publication in the Negarit Gazette.

The Council also deliberated on the Water Body Shoreline Demarcation, Development, Maintenance, and Use Bill. This bill aims to protect and sustainably develop water body shorelines, preventing damage and enhancing ecosystem services. By safeguarding these shorelines, the bill seeks to improve the well-being of local communities and contribute to economic growth. The Council unanimously approved the bill and forwarded it to the parliament.

Additionally, the Council has discussed the bill establishing the Supreme Council of Basins. This council will play a crucial role in promoting integrated water resource management at the basin level, ensuring the equitable and sustainable use of Ethiopia's surface and groundwater resources, by fostering collaboration among relevant stakeholders, the council will contribute to the development, use, maintenance, protection, and control of water resources. 

Finally, the Council of Ministers unanimously approved the bill and referred the House of People’s Representatives for approval.