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HomeWorldTaliban's first annual Afghan budget estimates deficit at $501 million
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Taliban’s first annual Afghan budget estimates deficit at $501 million

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Taliban’s first annual Afghan budget estimates deficit at $501 million

Taliban's first annual Afghan budget estimates $501 million deficit
  • The Taliban refrained from clarifying how the gap between expected revenue and planned spending would be met.
  • Deputy Prime Minister Abdul Salam Hanafi states that the government had estimated the expenditure of 231.4 billion Afghanis and the domestic revenue of 186.7 billion.
  • Spokesperson of the Finance Ministry says that the revenue is collection from the departments related to customs, ministries and mines.

KABUL: Afghanistan is facing a budget deficit of 44 billion Afghans ($501 million) this fiscal year, the country’s Taliban officials said on Saturday without explaining how the gap between expected revenue and planned spending could be bridged. be fulfilled.

Announcing the first annual national budget since the Taliban took the war-torn country in August last year, Deputy Prime Minister Abdul Salam Hanafi said the government had estimated spending of 231.4 billion Afghans and domestic revenues of 186.7 billion.

“The revenue is collections from departments related to customs, ministries and mines,” Finance Ministry spokesman Ahmed Wali Hakmal said.

Since the 2001 US-led invasion of Afghanistan, Western-backed governments have relied mostly on foreign aid. In August 2021, foreign forces withdrew from Afghanistan, leading to the fall of the government and the takeover of the Taliban.

The world has not yet officially recognized the Taliban government. The country is dealing with escalating security issues and an economic slowdown, while aid agencies figure out how to help 50 million Afghans without giving the Taliban direct access to funding.

Hanafi said the budget for the current fiscal year, which runs until next February, was approved by the council of ministries and ratified by Taliban supreme leader Haibatullah Akhunzada, and would use only local funds.

He said development works would cost 27.9 billion Afghanis, but did not give details of spending on sectors such as defence.

“We have focused on education, technical education and higher education, and our focus is on how to make education accessible to all,” Hanafi said.

Taliban officials have not allowed the resumption of older girls’ education across the country, even after setting a date for earlier this year.

Taliban’s first annual Afghan budget estimates deficit at $501 million

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