Council Approves Over 581 Billion Birr Supplementary Budget.

Addis Ababa: The Council of Ministers, in its 40th regular session, has approved a supplementary budget of 581,982,390,117 Birr to address additional budgetary needs and cost adjustments for the ongoing 2024/25 Ethiopian fiscal year. The council discussed the budget in detail and unanimously decided to refer it to the House of Peoples' Representative for approval.According to Ethiopian News Agency, the Council of Ministers also passed decisions on multiple draft bills. Initially, the Council deliberated on a draft bill of the Medium-Term Macroeconomic and Fiscal Framework for the period 2024-2025, which will guide the implementation of macroeconomic and fiscal reforms as part of the second phase of indigenous economic reform. The council has unanimously approved this framework to inform the 2024/2025 federal government supplementary budget and expenditure adjustments.The supplementary budget aligns with the recently approved framework and addresses additional budgetary needs and cost adjustments. The Coun cil passed a decision unanimously to make the policy effective with additional inputs. Next, the Council discussed the federal government's supplementary budget and expenditure adjustment proclamation, considering the government's financial capacity and expected revenues, to enable the implementation of the revised 2024-2029 medium-term macroeconomic and fiscal framework.Moreover, the Council deliberated on a bill establishing the Institute of Certified Accountants in Ethiopia. This institute aims to develop a robust system of financial reporting and presentation in both the public and private sectors by producing highly qualified professionals. After extensive discussion, the Council referred it to the House of People's Representatives for approval.The Council also reviewed the Solid Waste Management and Disposal Bill, which seeks to address the environmental and health risks posed by solid waste. Key measures include prohibiting the import of single-use plastic products and establishing a comprehensive system for solid waste management. This bill was also referred to the House of People's Representatives for approval.Furthermore, the Council discussed a regulation amending the establishment rules of the National Rehabilitation Commission, stating that this amendment is necessary to enable the Commission to effectively fulfill its legal mandates and responsibilities. The Council decided to implement the regulation effective its date of publication in the Negarit Gazette.The Council also deliberated on the Water Body Shoreline Demarcation, Development, Maintenance, and Use Bill. This bill aims to protect and sustainably develop water body shorelines, preventing damage and enhancing ecosystem services. The Council unanimously approved the bill and forwarded it to the parliament.Additionally, the Council has discussed the bill establishing the Supreme Council of Basins. This council will play a crucial role in promoting integrated water resource management at the basin level, ensuring equitable and sustai nable use of Ethiopia's water resources. Finally, the Council of Ministers unanimously approved the bill and referred it to the House of People's Representatives for approval.