Ethiopia approves $4.8 billion extra spending to subsidize essentials amid economic crisis.

Ethiopia's parliament has approved an additional $4.8 billion in spending for the 2024/25 fiscal year, marking a 21% increase from the previous year. The funds will subsidize fertilizers, oil, fuel, and medicine. The country faces economic challenges due to the pandemic, a two-year war in Tigray, and extreme weather, and recently secured a $3.4 billion IMF program.

November 26, 2024
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