Business

EU Approves € 98 Million to Support Reforms in Afghanistan

Published

6 years ago

July 25, 2018

(Last Updated On: October 24, 2022)

The European Union (EU) informed government about its decision to disburse € 98 million to support reforms in Afghanistan.

The EU in a statement said the money assisted to Afghanistan in carrying out reforms to finalize and operationalize its development policies (ANPDF and NPPs), maintain macroeconomic stability and mobilize domestic revenue, advance sound public financial management and strengthen state budget transparency.

It is part of a State Building Contract (SBC) signed with the Government of Afghanistan during the Brussels Conference on Afghanistan on 4 October 2016 and which already provided € 100 million in 2017.

Mohammad Qayoumi, acting Minister of Finance said, “This contribution to the national budget demonstrates the significant progress in reforms, including our new transparent budget, ongoing work in reducing corruption, strong growth in revenue generation, and improved service delivery through the NPPs.”

“Through budget support programs, such as the State Building Contract, the Government of Afghanistan is able to respond more effectively to the country’s priorities and ensure equitable development. I thank the European Union and its member states for its support and commitment to the people of Afghanistan,” Qayoumi added.

Meanwhile, Pierre Mayaudon, EU Head of Delegation, noted: “This direct budget support disbursement is once again a very tangible demonstration of the EU and its citizens’ strong commitment to Afghanistan and its people. Following an overall positive review of progress on key reform criteria, the EU’s State Building Contract makes a direct contribution to the National Budget and provides the Government of Afghanistan with substantial financial resources and flexibility to allocate these where they are most needed for the implementation of Government of Afghanistan-led and owned priorities.”

“The purpose is to improve the policy environment and support effective public institutions that deliver more and better for all Afghans, boost economic growth and reduce poverty, at a time when Afghanistan continues to face major security, economic and political challenges. We are very much looking forward to the continuation of our excellent collaboration with the Government of Afghanistan,” Mayaudon added.

In view of the success of the State Building Contract, the EU and the Afghan Government are preparing for the continuation of this Budget Support operation for the period 2018-2021.

Business

Export volume totals over $140 million in last month of 1402

Published

2 days ago

April 17, 2024

Ariana News

(Last Updated On: April 17, 2024)

The National Statistics and Information Authority (NSIA) confirmed Tuesday that in the last month of solar year 1402, (March 2024) Afghanistan’s exports totaled $141.1 million and imports totaled $789.6 million.

This was down from $174 million for exports in the same period in 1401. However, imports increased by $99.2 million in 1402, up from $690.4 million.

Most exports in the last month of 1402 went to Pakistan, India and the United Arab Emirates, while in the last month of 1401 exports went to Pakistan, India and China.

Business

Afghanistan-Kazakhstan chamber of commerce opens in Herat

Published

4 days ago

April 15, 2024

Ariana News

(Last Updated On: April 15, 2024)

The Ministry of Interior said the governor of Herat province Islam Jar met with Alim Khan Yasin Gildaye, Ambassador of Kazakhstan to Afghanistan, to discuss various issues around trade.

According to the ministry, the two sides discussed the expansion of trade facilities, increasing the volume of trade exchanges between traders of the two countries, reducing customs tariffs, solving the challenges of traders and issuing visas to them.

The Afghanistan-Kazakhstan Chamber of Commerce has been opened in Herat in order to facilitate and increase trade between the two countries.

Business

Afghanistan reaches self-sufficiency in production of 133 items: MoIC

Published

6 days ago

April 13, 2024

Ariana News

(Last Updated On: April 13, 2024)

The Ministry of Industry and Commerce (MoIC) says Afghanistan has reached self-sufficiency in 45 sectors and the production of 133 items, and that the ministry is striving to change Afghanistan from an importing country to an exporting one.

The ministry officials said that for this purpose, supporting domestic products and attracting investment is essential.

The ministry’s spokesman Abdul Salam Jawad Akhundzada emphasized increasing the use of domestic goods and products in government and national projects and added that efforts have also begun to find a market for domestic products inside and outside the country.

“We have reached self-sufficiency in 133 items of production, which is 45 sectors, and also we reached the capacity of semi-self-sufficiency in 95 items of production, which is 27 sectors,” he said.

Meanwhile, the Chamber of Industries and Mines (ACIM) says over the past two and a half years, more attention has been paid to the development of domestic production and it is also expanding.

The chamber officials stressed expanding the culture of using domestic products in government projects.

“I think that the government is one of the biggest consumers in the market if it uses domestic products in all its development projects,” said Abdul Nasir Rashtia, a member of ACIM.

Economic experts also said that if the use of domestic products in government projects increases, Afghanistan will quickly move towards economic independence.