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