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Budget

MoF Suggests AFs 399 Billion Budget For Next Fiscal Year

Ministry of Finance says it has set aside AFs 124 billion for the development budget for the next financial year.  

The Ministry of Finance (MoF) has allocated AFs 399 billion for the 1398 fiscal year’s budget, 69 percent of which has been allocated for the standard budget while the remaining 39 percent has been allocated for the development budget.

According to the ministry, the draft budget for the next fiscal year will be sent to parliament for approval within the new few weeks.

These figures were revealed by MoF officials to MPs in the Wolesi Jirga, the Lower House of Parliament, on Wednesday. 

The officials briefed lawmakers on government’s income, on the current year’s budget spend and on the next fiscal year’s budget.

The deputy head of revenues and customs at the Ministry of Finance, Abdullah Raqibi, said that from the AFs 399 billion, AFs 275 billion will be allocated to the standard budget and the remaining will be put aside for the development budget.

“The total budget in the 1398 fiscal year will be AFs 378 billion of which AFs 188 billion will be provided from the local income and AFs 199 billion will be provided from foreign assistance. Considering these figures, 51 percent of the budget will be funded by foreign aid,” said Raqibi.

Some MPs said next year’s budget should not be made based on political interests and that it should be balanced and transparent.

“Over the years, experience has shown that development budgets have not been effective because they are not drawn up based on the economic needs but are based on the power of powerful men in Kabul and provinces,” said Ramazan Bashardost, an MP from Kabul.

“The development budget is very low. Thirty-one percent of the budget has been considered as development budget. Afghanistan needs improvement in its development budget,” said Sadiqi Nilizada, an MP.

Statistics by the Ministry of Finance shows that currently 59.6 percent of the development budget has been spent while the target is that 90 percent of it must be spent by the end of the current fiscal year.

The total value of the current year’s national budget is AFs 377.011 billion, comprising of AFs 266.133 billion ordinary budget and AFs 110.878 billion development budget.

Budget

MoF Suggests AFs 399 Billion Budget For Next Fiscal Year

Ministry of Finance says it has set aside AFs 124 billion for the development budget for the next financial year.  

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The Ministry of Finance (MoF) has allocated AFs 399 billion for the 1398 fiscal year’s budget, 69 percent of which has been allocated for the standard budget while the remaining 39 percent has been allocated for the development budget.

According to the ministry, the draft budget for the next fiscal year will be sent to parliament for approval within the new few weeks.

These figures were revealed by MoF officials to MPs in the Wolesi Jirga, the Lower House of Parliament, on Wednesday. 

The officials briefed lawmakers on government’s income, on the current year’s budget spend and on the next fiscal year’s budget.

The deputy head of revenues and customs at the Ministry of Finance, Abdullah Raqibi, said that from the AFs 399 billion, AFs 275 billion will be allocated to the standard budget and the remaining will be put aside for the development budget.

“The total budget in the 1398 fiscal year will be AFs 378 billion of which AFs 188 billion will be provided from the local income and AFs 199 billion will be provided from foreign assistance. Considering these figures, 51 percent of the budget will be funded by foreign aid,” said Raqibi.

Some MPs said next year’s budget should not be made based on political interests and that it should be balanced and transparent.

“Over the years, experience has shown that development budgets have not been effective because they are not drawn up based on the economic needs but are based on the power of powerful men in Kabul and provinces,” said Ramazan Bashardost, an MP from Kabul.

“The development budget is very low. Thirty-one percent of the budget has been considered as development budget. Afghanistan needs improvement in its development budget,” said Sadiqi Nilizada, an MP.

Statistics by the Ministry of Finance shows that currently 59.6 percent of the development budget has been spent while the target is that 90 percent of it must be spent by the end of the current fiscal year.

The total value of the current year’s national budget is AFs 377.011 billion, comprising of AFs 266.133 billion ordinary budget and AFs 110.878 billion development budget.

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