Ethiopia Doubles Revenue Goal to $12.5 Billion With New Taxes

Ethiopia is more than doubling its revenue target amid an International Monetary Fund financing program that sets out several conditions to reform East Africa’s biggest economy.

The country seeks to collect 1.5 trillion birr ($12.5 billion) in the fiscal year to July 7, Prime Minister Abiy Ahmed told lawmakers on Thursday. That compares to 613 billion birr the finance ministry set in its 2024-25 budget presented in June.

To net more revenue, Ethiopia is introducing new taxes including value-added tax on banking services, property taxes and an excise tax on telecommunication services. In the first quarter of the fiscal year ...