The Council of Ministers approved a 2.34 trillion birr draft federal budget for the 2026/27 fiscal year during its 56th regular session. The proposal represents a 21.2 percent increase from the previous year's budget and has been sent to the House of Peoples’ Representatives for final approval.
The Council of Ministers unanimously approved the draft budget in its session held today. It was prepared based on the Medium-Term Macroeconomic and Fiscal Framework for 2019-2023. The budget covers regular expenditures, capital expenditures, subsidies to regional governments, and support for Sustainable Development Goals. It aligns with the 2019-2021 Development and Investment Plan. The Council first approved the macroeconomic framework before finalizing the budget proposal. The draft now moves to Parliament for a decision.
