Ethiopia needs $7.5 bln to finish megaprojects- PM

Ethiopian Prime Minister Abiy Ahmed on Friday said the East African nation needs $7.5 billion to finish infrastructure projects such as a massive dam and roads that the government hopes will drive industrialization.

Speaking to parliament before its vote on the 2018/19 budget, 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.

Reuters