In order to complete infrastructure projects, Ethiopia needs $7.5 billion

PUBLISHED: Fri, 06 Jul 2018 17:40:17 GMT


NAIROBI (Reuters) – Ethiopia needs $7.5 billion to finish infrastructure projects such as a massive dam and roads that the government hopes will drive industrialisation, the new prime minister said on Friday.

Speaking to parliament before its vote on the 2018/19 budget, Abiy Ahmed said the government needed to be more efficient and prudent in its spending of public funds. He said many state-owned enterprises were heavily indebted and export earnings were a third of the $10 billion annual target.

Abiy took office in April and has pledged sweeping political and economic reforms.

Writing by Maggie Fick; Editing by Duncan Miriri and Alison Williams

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