Addis Ababa: House of Federation Speaker (HoF) Agegnehu Teshager has stressed the need for strengthening revenue generation capacity in order to ensure the benefit of the people and equitable development.

House of Federation Speaker Agegnehu Teshager said that the ability to generate income should be further strengthened to ensure the benefit of the people and balanced development.

A joint consultative forum of federal and regional stakeholders on the management and distribution of shared revenues is underway in Hawassa city.

Speaking at the opening of the forum today, the speaker noted that the country’s revenue-sharing formula has been serving for many years.

Since the revision of the formula by the House in the 2021/22 fiscal year, however, the revenue of the regional states has been increasing significantly, he added.

The speaker further underlined that it is important to realize equal benefits and balanced development of the citizens of the country by enhancing income generation.

According to him,
it is also critical to make the collective revenue management and distribution system more transparent, efficient, and accountable.

The federal and regional stakeholders should establish a stronger and continuous coordination in order to solve the problems that occur in this aspect, Agegnehu noted.

The aim of today’s forum is to review the implementation of the new joint revenue formula since it came into effect.

The speaker elaborated that the forum is instrumental in strengthening the trust of the regions in the established system and to set the next direction by eliminating the bottlenecks based on the results of the operational audit.

Source: Ethiopian News Agency