Home Sydney The Taliban budget forecasts a deficit of $ 720 million

The Taliban budget forecasts a deficit of $ 720 million

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Afghanistan is facing a budget deficit of 44 billion Afghans ($ 722 million) this fiscal year, Taliban authorities said, without specifying how the gap between expected revenues and planned expenditures will be filled.

Announcing the first annual national budget since the Taliban seized the war-torn country last August, Deputy Prime Minister Abdul Salam Hanafi said on Saturday that the government had projected spending of 231.4 billion Afghans ($ 3.8 billion) and domestic revenue of $ 186.7 billion ($ 3 billion).

“Revenues are fees from customs, ministries and mines,” said Finance Ministry spokesman Ahmad Wali Haqmal.

Since the US-led invasion of Afghanistan in 2001, Western-backed governments have relied heavily on foreign aid. In August 2021, foreign troops withdrew from Afghanistan, leading to the collapse of the government and the capture of the Taliban.

The world has not yet officially recognized the Taliban government. The country is dealing with growing security problems and the economic crisis, and humanitarian agencies are figuring out how to help the 50 million Afghans without giving the Taliban direct access to funds.

Hanafi said the budget for the current fiscal year, which runs for February next year, had been approved by the Council of Ministers and approved by Taliban Supreme Leader Haybatullah Ahunzada, and would be used only from local funds.

He said the development work would require 27.9 billion Afghans ($ 456.9 million), but did not provide a breakdown of spending on areas such as defense.

“We have focused on education, technical education and higher education, and we are focusing on how to pave the way for education for all,” Hanafi said.

The Taliban authorities have not yet allowed the resumption of education for older girls across the country after taking a start date earlier this year.

https://www.perthnow.com.au/news/conflict/taliban-budget-predicts-a720m-deficit-c-6799117

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