Ethiopia needs $7.5 bln to finish megaprojects: PM

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Ethiopia's newly elected Prime Minister Abiy Ahmed addresses the members of parliament inside the House of Peoples' Representatives in Addis Ababa, Ethiopia April 19, 2018. REUTERS/Tiksa Negeri

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.

Ethiopia’s newly elected Prime Minister Abiy Ahmed addresses the House of Peoples’ Representatives in Addis Ababa, Ethiopia April 19, 2018. REUTERS/Tiksa Negeri/File Photo
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

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