Latest news with #financialYear
Reuters
5 days ago
- Business
- Reuters
Ethiopia's cabinet approves 31% budget increase for 2025/26
ADDIS ABABA, June 5 (Reuters) - Ethiopia's cabinet has approved a nearly 2 trillion birr ($15 billion) budget for the 2025/26 financial year starting in July, a 31% increase from the previous year, the Prime Minister's office said on Thursday. The East African nation, which struck a four-year deal with the International Monetary Fund last July, is in the midst of far-reaching economic reforms, including the floatation of its birr currency and a push to restructure its debt. Last week Ethiopia and the IMF reached a staff-level agreement on the third review of the $3.4 billion loan programme from the lender. The 2025/26 budget will support national security, increase production and productivity, and help people affected by disasters, the prime minister's office said in a statement, adding that it will be sent to the parliament for approval. In June last year, Ethiopia set spending for 2024/25 at 971.2 billion birr, and in November said it planned to spend a further 581.98 billion birr to help subsidise costs of fertiliser, oil, fuel, and medicine. ($1 = 133.8803 birr)
Reuters
29-05-2025
- Business
- Reuters
India central bank's net income surges in FY25 as FX gains rise
MUMBAI, May 29 (Reuters) - The Indian central bank's net income stood at 2.67 trillion rupees ($31.19 billion) in the financial year ending March 2025 against 2.11 trillion rupees in the previous year, according to its annual report. The Reserve Bank of India saw a gain of 1.11 trillion rupees from foreign exchange transactions during the year versus 836.16 billion rupees last year, showed the report, which was released on Thursday. Interest income from foreign securities 970.07 billion rupees versus 653.28 billion rupees last year. ($1 = 85.6020 Indian rupees)
Reuters
23-05-2025
- Business
- Reuters
Pakistan to present FY26 annual budget on June 2
ISLAMABAD, May 23 (Reuters) - Pakistan will present its annual budget on June 2 for the financial year 2025-26, Khurram Schehzad, the finance minister's adviser, said on Friday. The economic survey for the current financial year will be presented on June 1, Schehzad said.
