Ethiopia collects over $6 billion tax income

The Ministry of Revenue of Ethiopia collected 217.24 billion birr (about $6.32 billion) tax income during the first eleven months of the current budget year of Ethiopia, winch started July 8, 2029.

The Ministry said it has achieved 89 percent of its revenue collection target for the period. Compared to the previous year same period, the revenue of the country has increased by close to 22 percent. Last May the Ministry has collected 18.35 billion birr (about $533.5 million). The revenue for the month is 20 percent higher than the money collected in May 2019, according to the monthly report of the Ministry.

The total revenue target of Ethiopia for the 12 months of this year is 240 billion birr (about $6.98 billion at current exchange rate). Last week the Ministry of Finance has brought 476 billion birr (about $13.84 billion) draft budget of the country for the budget year, which starts July 8, 2020.

The budget for the year is 7 percent higher than the previous year including the additional some 48 billion birr (about $1.4 billion) budget the government injected in response to COVID-19.