Ethiopia's upcoming 2019 fiscal year budget plan has been designed to support low-income segments of society and positively impact the daily lives of every Ethiopian household, Minister of Finance Ahmed Shide announced.

Speaking before the House of People's Representatives during its 29th regular session, the minister responded to parliamentary inquiries by explaining that the budget prioritizes social spending subsidies aimed at boosting citizens' purchasing power and curbing the rising cost of living.

Minister Ahmed noted that the fiscal framework aligns with the country's homegrown economic growth strategy and actively addresses preexisting macroeconomic imbalances.

Addressing foreign relations, the minister emphasized that engagements with international partners will be strengthened in a manner that strictly preserves Ethiopia's policy independence. He underscored that the government will not enter into any partnerships that fail to support economic stability or serve the public interest.

Looking ahead, the minister stated that the government intends to broaden the tax base to ensure state fiscal capacity expands in tandem with national economic growth.

The total budget for the 2019 fiscal year places a heavy developmental focus on critical sectors, specifically prioritizing education, social affairs, health, and energy.