Ethiopia needs $7.5 billion to finish infrastructure projects such as a massive dam and roads that the government hopes will drive industrialisation, the new prime minister said on Friday.
Speaking to parliament before its vote on the 2018/19 budget, Abiy Ahmed said the government needed to be more efficient and prudent in its spending of public funds. He said many state-owned enterprises were heavily indebted and export earnings were a third of the $10 billion annual target.
Abiy took office in April and has pledged sweeping political and economic reforms, in the wake of Ethiopia’s fragile transition period.
We will keep you updated with the latest developments and updates from the region.
Halgan Media.
