COVID-19: Ethiopia passes supplementary budget to limit impact on economy

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Ethiopia’s parliament has approved a supplementary budget worth $1.43 billion for the financial year ending July as a result of economic disruptions triggered by the coronavirus outbreak.

Authorities also put in place several measures to curb the spread of the virus including banning public gatherings, closing schools.

“The economy is being highly impacted due to corona and the government have to assist,” Finance Minister Ahmed Shide told lawmakers.

Shide said the money in the supplementary budget would be used to provide humanitarian assistance and to buy medical supplies to help in the fight against COVID-19.
A document from Prime Minister Abiy Ahmed’s office presented to parliament showed Ethiopia’s economy is now expected to grow by 5-6% in 2019/2020 which ends July 7 from a previous forecast of 9%.

He added that the supplementary budget wiould be funded with a mix of external and domestic loans.

The country has recorded 831 cases of COVID-19 and seven deaths.

Peace PIAK