Prime Minister Abiy Ahmed announced that Ethiopia will begin producing and exporting gas to the global market next year, following the completion of gas transmission infrastructure in the Somali Region. Speaking before the House of People’s Representatives, he confirmed that gas sales are expected to start early next year.
Additionally, the Prime Minister revealed plans to start construction of a fertilizer factory in partnership with Nigerian investor Aliko Dangote within the coming months. The plant is expected to be completed and operational in three and a half years.
Highlighting progress in the mining sector, Abiy noted that gold production has doubled this year, generating USD 3.5 billion in revenue. While four tons of gold were produced and exported, a total of 37 tons were exported this year, marking a record in foreign exchange earnings.
Meanwhile, Ethiopia’s House of Peoples’ Representatives unanimously approved a Birr 1.93 trillion budget for the upcoming 2018 Ethiopian Fiscal Year at its 42nd regular session. The budget allocates Birr 1.2 trillion for recurrent spending, Birr 415 billion for capital expenditure, and Birr 315 billion for subsidies to regional states. It is aligned with the country’s mid-term macroeconomic framework and aims to enhance national security, productivity, and support for displaced citizens.
Source: Sheger FM 102.1 and Ethiopian News Agency