February 02, 2023

Finance Ministry Drafting Budget for Next Year

Finance Ministry Drafting Budget for Next Year

The Finance Ministry of the Islamic Emirate of Afghanistan (IEA) said it has started drafting its budget for the next fiscal year, which will be bigger than this year’s budget.

A spokesman for the Ministry of Finance said they have received individual budgets from the various ministries and departments and are now working on the overall budget.

He said that next year’s budget is expected to be higher than this year’s.

According to the official, domestic revenues have substantially increased, and it could increase further with higher levels of trade with neighboring countries.

“Our exports surpassed $1 billion in eight months since the beginning of this year, which is unprecedented. Situation is improving day by day. There are new facilities at the customs [ports]. Some customs are operating 24 hours a day. Processing has been made easy. Corruption has been stopped,” said Ahmad Wali Haqmal, a spokesman for the finance ministry.

IEA’s budget for this fiscal year is 231 billion Afghanis, including 206 billion Afghanis for ordinary expenses and 27.9 billion Afghanis for development projects.

There was however a total 44 billion Afghanis deficit.

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