Ethiopia approves $1.43bn supplementary budget


A $1.43 billion budget has been approved by Ethiopia’s parliament to help the economy weather the impact from the novel coronavirus.

The Horn of Africa country has recorded 831 cases of COVID-19 and seven deaths. And authorities have put in place several measures to curb the spread of the virus including banning public gatherings, closing schools and borders which have hurt economic activity.

The approved document shows that Ethiopia’s economy is expected to grow by 5-6% in 2019/2020 which ends July 7 from a previous forecast of 9%.

It will be funded with a mix of external and domestic loans.

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