Government of Ethiopia has planned to return about 25 billion Birr debt for upcoming budget year The Ethiopian Herald learnt.
Ministry of Finance Ministry Public Relations Directorate Director Haji Ebsa told The Ethiopian Herald that the government has been working hard to ease the nation from debt distress.
He said: “In the fiscal year 2018/9 only, Ethiopia managed to pay back 22 billion Ethiopian Birr (ETB), which is the highest after the 16 billion ETB debt pay back in 2016. This was the very critical burden in the nation’s economic development especially in 2018/19. ”
Ethiopia has planned to pay back over 25 billion ETB debt in the year 2019/20 from all its revenues, he added.
“Government decided this to ease the negative 3 deficit loan distress,” he noted.
The Ethiopian Herald