Economics
Ethiopia Increases Spending as IMF Calls for More Private Loans
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Ethiopian lawmakers approved a 12 percent spending increase in 2013-14 to help support infrastructure development as the International Monetary Fund urged the government to free up credit for private borrowers.
The state will boost spending to 159.4 billion birr ($8.5 billion) in the year from July 8 with about one-third allocated to upgrading roads, State Minister of Finance Abraham Tekeste said today by phone from the capital, Addis Ababa. External sources account for about one-fifth of the 2013-14 budget.