News: Ministry of Finance to reshuffle annual budget to enhance saving

Ahmed Shide, Minister of Finance
Photo: Minister of Finance

By Addis Standard Staff

Addis Abeba, November 17, 2020-  The Ministry of Finance yesterday announced that it is reshuffling this year’s budget to save the government’s spending. The Ministry and its affiliated institutions yesterday presented their first quarter performance report for the fiscal year as well as the next 100 days plan. Speaking at the event, the minister of finance, Ahmed Shide said the ministry will work on utilizing public resources for their intended use, “The main task of the ministry will be to reshuffle the budget and ensure its effective usage by avoiding misspending.”

Ahmed pointed out that the revenue collected from foreign sources may not hit the target. He urged the importance of focusing on tax collection instead. Discussing projects and programs that the government is currently focusing on, the minister suggested that it is important to implement them after setting out priorities based on their significance.  

The minister commended the first quarter performance of the ministry and its affiliated institutions and urged for an efficient and cost effective implementation of the100 days plan based on the new government structure. 

The state minister of the ministry of finance, Eyob Tekalign (PhD) on his part emphasized the need to focus on reform projects and performing better to meet the needs of the community. Semerita Sewasew, the state minister of economic cooperation, indicated the need to provide capacity building training to the employees of the ministry and called for a better recording of auditing. 

The ministry of finance and its affiliated institution who participated in the quarterly annual performance assessment and devising 100 day plan reached a consensus to strengthen employees’ report presentation, public property procurement, audit findings, budget utilization, and other key functions of the ministry. AS

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