← Back to briefingZenaHub.
Englishአማርኛ
Economy

Addis Ababa Overhauls Finance Rules to Close Budget Gaps

BirrMetrics · 2 hours ago · Read the Full Story on BirrMetrics
Addis Ababa Overhauls Finance Rules to Close Budget Gaps
AI SUMMARY

The Addis Ababa City Administration is introducing six draft guidelines to tighten public financial management, address audit failures, and monitor stalled projects under a record 502.27 billion Birr budget.

  • The Addis Ababa City Administration Finance Office is preparing six draft guidelines to tighten financial enforcement, budget administration, and asset management.
  • The draft guidelines cover pricing, expenditure savings, resource mobilization, and the monitoring of government and civil society organization projects.
  • Addis Ababa approved a record 502.27 billion Birr budget for the 2026/27 fiscal year, representing a 43.5 percent increase from the previous year.
  • Capital expenditure comprises 359.3 billion Birr or 71.5 percent of the total budget, while recurrent spending accounts for 142.97 billion Birr and 16 billion Birr is set aside as contingency.
  • An audit of 166 agencies revealed over two billion Birr in uncollected receivables, 1.9 billion Birr in payables, and adverse opinions for financial mismanagement issued to 31 agencies.
  • The audit also identified 105.7 million Birr in procurement violations and 108.7 million Birr in documentation gaps.
  • The Addis Ababa Roads Authority held 4.2 billion Birr in receivables, and the Land Holding Registration and Information Agency was flagged for 240.4 million Birr in undocumented payables.
  • A separate draft directive aims to move half of manual municipal payments online to reduce bottlenecks and corruption risks by up to 90 percent.
  • A new procurement rulebook is being prepared to separate procurement duties, raise competitive bidding thresholds, and enable fully electronic procurement.
Read the Full Story on BirrMetrics
Related
Commercial Bank Deposit Growth Outpaces Credit Growth
BirrMetrics · 2 hours ago
Backed $720 Million Programme Targets Green Industry
BirrMetrics · 2 hours ago
National Bank of Ethiopia Keeps 16 Percent Policy Rate Amid Persistent Inflation
Borkena · 2 hours ago
Job Openings Surge in September in Positive Sign for Labor Market
CNBC · 9 hours ago