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Revenue for the first half of the budget year stood at 6.2 billion
The Addis Ababa City Administration has expended over 5 billion birr in the first six months of this fiscal year.
This was reported while the Bureau of Finance and Economic Development (BoFED) of the Addis Ababa City Administration presented its six months’ performance report to the City Council on Saturday February 2, 2013.
According to the report, the city spent 3.4 billion birr in capital expenditure, which accounted for 67.8 percent of total expenditure. The recurrent expenditure of the city stood at 1.6 billion birr, or 32.2 percent.
In the 2011/2012 Ethiopian budget year, the city spent 8.3 billion birr of which the capital expenditure is 5 billion birr, and the rest accounts for the recurrent expenditure. About 80 percent of the capital expenditure was dedicated for housing development, water, road, education, health and micro and small enterprise development, as these areas are vital for poverty alleviation and guaranteeing development sustainability, according to the report. The city has implemented the same approach for the last four consecutive years.
Over the last five years, the city’s budget for capital expenditure, on average, is over 65 percent. “This shows the city has made development a priority with fair budget distribution,” the report read.
The country’s annual budget for the 2012/13 fiscal year was 137.8 billion birr. The government allotted 54.4 billion birr, 6.4 billion birr higher than in previous years, for capital expenditure out of the total budget.
The Oromia Regional state received 11.8 billion birr, the largest portion, from federal subsidy to regional states, followed by the Amhara Regional state and the Southern Nations, Nationalities and Peoples Regional state (SNNPR), which received 8.4 billion birr, and 7.3 billion birr, respectively.
The city has collected 6.2 billion birr as income in the first six months of the current fiscal year. Compared to the same period of the previous fiscal year, the income has shown an increase of 39 percent. The increment, according to the report, is attributed to the ever-developing tax collection which has reached 12 percent, 2 percent higher than 2008’s. However, the city administration believes tax collection mechanisms should continue to improve, to register efficiency.