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Major Developments Approved for Eritrea's 2012 Budget

Major infrastructure development approved for Eritrea's 2012 Budget


Jan. 12, 2012 (ASMARA) — In a cabinet meeting held at the capital, Eritrean officials approved a number of large-scale development projects for the 2012 fiscal year.

In keeping in-line with its 5-year development strategy, the ministers had taking into consideration the nation’s current socio-economic inequalities, housing shortages, and the impact of rising commodity prices.

According to state media, the majority of the budget focuses on infrastructure building, food security, renewable energy, health, education and poverty reduction. Some of the major infrastructure developments in store include large housing development, expansion of Eritrean rail system, modernizing Eritrea's airport, and renovation of Asmara's historic perimeters.

What separates this year's fiscal budget from previous ones is the prominence officials have have given to expanding the private sector. By allocating enough funds and passing new legislation, officials aim to encourage and grow private entrepreneurship.

Recognizing the impact of rising fuel and food prices, the budget has also allocated large sums of funds to minimize the impact on ordinary citizens by expanding social services and increasing domestic production of commonly imported goods. Moreover, to decrease dependence on fossil fuel, investments in alternative and renewable clean energy such as solar and wind will get a priority.

With a red-hot economy that seen its GDP growth accelerate to 17 percent in 2011, the Red Sea state will strive for a more broad-based economic growth in 2012. Despite imported commodity prices remaining high, the country expects the economy to grow by 7-10 percent this fiscal year.

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Major Developments Approved for Eritrea's 2012 Budget Reviewed by Admin on 7:32 PM Rating: 5

6 comments:

  1. ' What separates this year's fiscal budget from previous ones is the prominence officials have have given to expanding the private sector. By allocating enough funds and passing new legislation, officials aim to encourage and grow private entrepreneurship '.

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    THERE WE GO!!! now we are talking my kinda leadership. the people of eritrea only need the chance to take the first step, and this would allow just that. this is a greeeaat news endeed.there is absolutely no doubt in my mind that we are headed in the right direction, we are simply not moving not fast enough to meet the citizens demand of having the chance for entrepreneurship.

    thx madote.com you are awesome and i do enjoy stoping by always.
    best wishes to all from dallas tx.

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  2. allow me to continue, quahmam agame...

    3- woyane in deep shhhht,ethiopians waking up

    4- meles shaking like a leaf oppositions strong and in the whitehouse demanding his departure.

    5-i think enough 4 now...but u get the idea.

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  3. Oh MY GOD I DON'T KNOW HOW TO STOP LOVING ERITREA AND ERITREANS!!! THIS LEADERSHIP IS SMART, SO SMART, SO SMART IT'S UNBELIEVABLE. LOVE TO ALL ERITREANS NO MATTER YOUR EXPERIENCES, NOTHING WAS IN VAIN. YOU'LL SEE WHAT WE ALL SACRIFISED FOR!!! LOVE, PEACE, HARMONY NOT ONLY TO ERI'S BUT ALSO TO ALL SENTIENT BEINGS!!!!!!!!!!!!

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  4. Don't bother to answer those uninvited guests, they are "beyond repair" as one put it. It's true. Just love your fellow eritreans, and hopefully the God will save the weyanes soul. They are not our business anyway!

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  5. There is sense and purpose when a group of smart individuals sit together and plan ahead. When they are in it like everyone else, for real, the rest of the population gets it. When you lead from the front it becomes unnecessary to have to shout it from 'roof-top'.

    A quiet,efficient,and purposeful work ethic brings about tangible results. When you lay solid foundations it is just a matter of time before you start to reap rich returns. In the mean time, the cynics and the vociforous oppositions will have their field-day.

    When you take steps based on concrete and factual assessment of the overall state of affairs of the country the results will be forthcoming. There is no need to boast or blow your trumpet since the people who need to know about it are the beneficiaries themselves. What the outside world does or fail to do is out of your hand/ control. No matter how little the achievement it is for the people and by the people. This takes some smart thinking and smart choices.

    For those used to seeing foreign aid bringing relief to third-world country fail to recognise the strings that come attached with it. We know from the experience of African countries what this does. We also know what it does in the second world.
    Why is it that none of the European countries who sympathise with the cause of Eritea fail to voice their views? Because USA will not allow it. The correct views, the right democracy etc... must be dictated by USA. Because it believes might is right. This is in keeping with the anals of history. Yet this is a country with a $16 trillion of debt whose debt cannot be paid off neither by this nor the next generation. How rich,pardon the punt,is it coming from the self-same??!!!

    However, that is for the USA to deal with. The Eritreans want to manage their affairs in their own right. Judging by the results of the last twenty years they have done rather well, with due respect. These results will have a compound effect with the passing of years. It is this that sticks in the gut of the opposition. Despite the meagre resources Eritea is doing better than its neighbours. The leadership has been trying to explain and educate people what it dose and why as well as the sacrifices that it entails. When people get a taste of something good there is no stopping them. Read your history books.

    The way the leadership is managing the affairs in Eritrea will be appreciated down the years not now. We all can see now, with absolute clarity, the decision for withdrawal in 1978. Why? It was based on a discussion by a group of smart people responsible for the whole of Eriteans. Was it a popular decision? Not by a long stretch of the imagination!! But the discussions and the analyses led to one decision,ie., the correct one. There were people then just as now who would like us to believe they(the arm-chair intelligenzia) knw best and we should listen to them rather than those who are involved daily in the rebuilding of a country. I just take their opinions with a huge pinch of salt. I prefer those whose actions speak louder and quietly transform a country, despite all the odds,as usual.

    ReplyDelete
  6. How can you ever say Eritrean GDP has grown by 17%? Do you know how to calculate GDP? Have you considered the immense amount of inflation which will probably take the GDP to - 17%. Talk about reality instead of following Esaias's propaganda.

    ReplyDelete

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