Ethiopia: Addis Ababa residents protest the land lease law
The House of Federation, in its fourth year and 2nd regular meeting, has decided to revise laws for fair budget allocation in the country, Speaker Kerya Ibrahim disclosed.
Briefing journalists today, House of Federation Speaker Keria Ibrahim said the decision to revise the laws was reached in order to ensure fair federal and regional budget allocation formula, and federal subsidy budget to regions.
According to her, experiences of other countries are already bench-marked for better standards and systems, federal and regional joint budget allocation formula that have not been revised for the past 20 years.
The law regarding federal and regional joint budget allocation formula will be implemented in 2013 Ethiopian fiscal year.
The House of Federation has passed the federal subsidiary budget allocation to regions proclamation to the House of People’s Representatives.
The revision of the laws will help to ensure fair distribution of budgets and capital project distribution, Keria added.
The speaker stated that the decisions were made considering the current political, economic and social changes of the country.