Ministry of Revenue Exceeds Target with Record 1.5 Trillion Birr Collection

Addis ababa: The Ministry of Revenue announced it collected 1.518 trillion Birr during the 2018 Ethiopian Fiscal Year, outperforming its revised annual target and setting a historic milestone for domestic revenue collection.According to Ethiopian News Agency, the announcement was made during the opening of the annual performance review for the Ministry and the Ethiopian Customs Commission, where officials met to review past results and lay out plans for the 2019 fiscal year. Minister of Revenue, Aynalem Nigussie, stated that ongoing macroeconomic reforms are delivering clear, measurable gains.The ministry originally set a revenue target of 1.28 trillion Birr. Following strong first-half results, officials adjusted the target upward to 1.5 trillion Birr. By the close of the fiscal year, actual collections reached 101.24 percent of that revised goal. Of the total revenue collected, domestic taxes accounted for the largest share at 774 billion Birr, while customs duties and taxes on foreign trade generated a n additional 725.3 billion Birr.Compared to the previous fiscal year, total collection jumped by 618.39 billion Birr, a 68.69 percent increase. Minister Aynalem attributed the growth to targeted policy reforms, a broader tax base, modernized tax administration, and digital service integration. She described the achievement as a new historic chapter that lays the foundation for Ethiopia's fiscal sovereignty.Efforts to curb illicit trade also yielded significant results. Enhanced institutional coordination and community involvement led to the seizure of contraband imports and exports valued at an estimated 28.9 billion Birr. Speaking at the event, Ethiopian Customs Commissioner Debele Kabeta also highlighted the transition of national revenue collection from the billion-Birr scale to the trillion-Birr mark as a watershed moment. He added that the momentum from 2018 provides a solid launching pad for achieving even higher targets in the 2019 fiscal year.