{"id":5895,"date":"2021-07-06T17:47:34","date_gmt":"2021-07-06T17:47:34","guid":{"rendered":"https:\/\/www.africa-press.net\/ethiopia\/?p=5895"},"modified":"2021-07-06T17:10:47","modified_gmt":"2021-07-06T17:10:47","slug":"new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser","title":{"rendered":"New Budget Prioritizes Agricultural Sector: PM Senior Economic Adviser"},"content":{"rendered":"

Africa-Press<\/a> – Ethiopia<\/a>. <\/strong><\/span>July 06, 2021 (ENA) The 2014 Ethiopian Fiscal Year budget approved by the House of People\u2019s Representatives gives priority to the agricultural sector, Senior Economic Adviser to the Prime Minister said.<\/p>\n

Senior Economic Adviser to the Prime Minister, Mamo Mihretu told ENA that the budget is allocated to the agricultural sector, especially to irrigation projects.<\/p>\n

According to him, the move will help to stabilize inflation by increasing production and productivity while completion of the projects stabilizes the macro-economy.<\/p>\n

\u201cAs we have said many times before, the budget for the year is formulated in such a way as to stabilize the macroeconomic and reduce cost of living. In this regard, the budget for some development activities has been significantly increased. For example, the budget for agriculture has increased. This is because irrigation development needs major capital expenditure. The allocation of increased budget to the sector will, however, increase production and productivity in the agricultural sector,\u201d he explained.<\/p>\n

In his address to the House of People\u2019s Representatives, Prime Minister Abiy Ahmed also said farming activities will be undertaken widely to reduce inflation.<\/p>\n

He noted that it is important to balance demand and supply to prevent inflation, solve the problem of the supply chain and also focus on wheat production in the dry season.<\/p>\n

Speaking about the approved budget, the senior adviser revealed that budget deficit is inevitable next year.<\/p>\n

\u201cWhenever there was a budget deficit, efforts were made to repay loans from the National Bank. This has contributed to inflation. Therefore, efforts will be carried out to fill the gap by selling treasury bills during the 2014 budget year. This could reduce inflation and lower living costs,\u201d Mamo elaborated.<\/p>\n

The government plans to collect 369.1 billion Birr tax in the budget year and efforts will be exerted in order to realize this by modernizing tax collection system, he stated.<\/p>\n

The senior adviser said, \u201cThe main goal is to cover expenses nationally as much as possible. To achieve this, we need to modernize our tax collection and expand new sources of income. By making our tax collection system technologically advanced and by developing a culture of voluntary tax collection, we will strive to cover our national expenses with national revenue.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ethiopia. July 06, 2021 (ENA) The 2014 Ethiopian Fiscal Year budget approved by the House of People\u2019s Representatives gives priority to the agricultural sector, Senior Economic Adviser to the Prime Minister said. Senior Economic Adviser to the Prime Minister, Mamo Mihretu told ENA that the budget is allocated to the agricultural sector, especially […]<\/p>\n","protected":false},"author":84,"featured_media":5894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,277,235],"class_list":["post-5895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-ethiopia-2","tag-ethiopia"],"yoast_head":"\nNew Budget Prioritizes Agricultural Sector: PM Senior Economic Adviser - Ethiopia<\/title>\n<meta name=\"description\" content=\"July 06, 2021 (ENA) The 2014 Ethiopian Fiscal Year budget approved by the House of People\u2019s Representatives gives priori ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Budget Prioritizes Agricultural Sector: PM Senior Economic Adviser\" \/>\n<meta property=\"og:description\" content=\"July 06, 2021 (ENA) The 2014 Ethiopian Fiscal Year budget approved by the House of People\u2019s Representatives gives priori ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser\" \/>\n<meta property=\"og:site_name\" content=\"Ethiopia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-06T17:47:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2021\/07\/img-60e48e7b05abf.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"594\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"New Budget Prioritizes Agricultural Sector: PM Senior Economic Adviser\",\"datePublished\":\"2021-07-06T17:47:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser\"},\"wordCount\":376,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2021\/07\/img-60e48e7b05abf.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ethiopia\",\"ethiopia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser\",\"url\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/new-budget-prioritizes-agricultural-sector-pm-senior-economic-adviser\",\"name\":\"New Budget Prioritizes Agricultural Sector: PM Senior Economic Adviser - 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