The Ministry of Finance and Economic Development shall have the powers and duties to:-

1. Initiate policies that ensure sustainable and equitable economic development as well as macro-economic stability in the country, in cooperation with the concerned organs, manage the economy by monitoring the implementation of such policy and submit reports on the performance of the economy;

2. Establish a system for the preparation and implementation of national    development plan, and in cooperation with the concerned organs    prepare the country's economic and   social development plan and follow-up the implementation of same when ratified;

3. Establish a system for the preparation and implementation of development projects; conduct pre-implementation evaluation of project proposals submitted for financing;

4.   follow-up and evaluate the performance of general, sectoral and multi- sectoral  development plan; prepare a report on the implementation of national development plan which shall include the performance of regional plans;

5. Initiate macro-economic and fiscal policies that particularly serve as a basis for taxes and duties and follow-up implementation of the same;

6. Establish systems of budgeting,     accounting, disbursement and internal audit for the Federal Government, and follow-up implementation of the same; ensure the harmonization of systems of budgeting, accounting, disbursement and internal audit established at the levels of both federal and regional governments;

7. Prepare the Federal Government budget, make disbursements in accordance with the budget approved, evaluate the performance of the budget;

8. Establish a system of procurement and property administration for the Federal Government and supervise the implementation of the same;
9. Mobilize, negotiate and sign foreign development  aid and loans, and   follow-up implementation of same;

10. Manage and coordinate the bilateral economic cooperation as well as the relationship with international and regional organizations set-up to create economic cooperation; follow-up the impact of same on the performance of the country's  economy; 

11. Be the depository of and safeguard  the Federal Government's shares negotiable and non-negotiable instruments and  other similar financial assets;

12. Formulate the population policy of the country, upon approval follow-up, coordinate and supervise its   implementation;

13. Ensure the proper execution of functions relating to mapping and statistics..

Source:-
     Federal Negarit gazette. Proclamation N0 691/2010