The Addis Ababa City Administration Cabinet has approved a draft budget of 350 billion birr (approx. $6 billion) for the 2018 Ethiopian fiscal year (2025/26), marking the city's largest budget to date. The proposal, which now awaits City Council approval, prioritizes infrastructure development, poverty reduction, and sustainable growth. 249.9 billion birr is allocated for capital expenditures, supporting large-scale projects, job creation, basic services, and urban transformation. 100.1 billion birr is set aside for recurrent expenses like salaries and maintenance, with an emphasis on efficiency and fiscal discipline. Additionally, the Cabinet approved a revision of urban land lease prices, particularly in high-growth areas like Lemu, to reflect increased land value and support future development plans. The budget reflects the city’s vision to become a resilient, inclusive, and globally competitive metropolis. The City Council will vote on the proposal in the coming weeks. (ICE ADDIS ABEBA)

Fonte notizia: Addis Insight