Connect with us

Business

Ministry of Finance says draft budget for next fiscal years has been drawn up

Published

on

Last Updated on: December 29, 2021

The Ministry of Finance (MoF) said the draft budget for the next fiscal year has been prepared and will be submitted to the Council of Ministers for approval within the next week.

Ahmad Wali Haqmal, a spokesman for the ministry, said the entire budget is dependent on domestic revenue income and not on foreign aid.

Haqmal said he expected the Council of Ministers to approve the draft budget by the end of the current month and submit it to the relevant agencies for implementation.

Haqmal added: “The draft budget is ready in the ministry and its work is almost done.”

“This is the first budget of the Afghan government in the last 20 years, which is not dependent on foreign aid and we have built it all on the basis of our domestic revenue. The Ministry of Finance is done with its work and after that it will go to the Council of Ministers for approval and after approval we will proceed according to our budget in the next financial year,” said Haqmal.

Haqmal said that there is no problem in covering the operating budget which is funded by the generation of domestic revenue, but there are some problems with the development budget. He said limited, but important, development projects have been included in this budget.

Haqmal said that if domestic revenue rises in the first half of the year, the budget will be adjusted and more development projects will be included.

He added: “We have no problem with the operating budget and the operating budget is made up from our domestic revenue, but we have also considered development projects for next year, which will be fewer than last year …As our revenue increases, other development projects will also be included in it. ”

But economists say the budget is not just about meeting the costs of ministries, but also about implementing development projects across the country and providing services to the people.

In previous years, Afghanistan’s budget for each fiscal year was estimated at 4.5 billion afghanis, up to 40 percent of which was earmarked for development projects, at that time, the entire budget would have been based on foreign aid and the deficit would have been higher than the discretionary budget.

Business

CASA-1000 power project on track to launch in 2027

Once operational, CASA-1000 is expected to strengthen regional energy security, support economic integration, and expand electricity trade across Central and South Asia.

Published

on

The long-delayed CASA-1000 energy project is expected to begin commercial operations in summer 2027, with construction in Afghanistan due for completion earlier that year, officials said.

Progress on the power project was reviewed during meetings in Dushanbe between April 18 and 20, involving Tajik authorities, Afghanistan’s state power utility Da Afghanistan Breshna Sherkat, the World Bank, and engineering firm KAMANI Engineering Corporation.

Tajik Energy Minister Daler Juma said the project is key to boosting regional cooperation and enabling the export of surplus hydropower from Central Asia to energy-deficient markets in South Asia.

Construction has already been completed in Kyrgyzstan, Tajikistan and Pakistan, while work continues in Afghanistan. According to officials, the Afghan segment is on track to be finalized by spring 2027, paving the way for full project operations later that summer.

Once operational, CASA-1000 is expected to strengthen regional energy security, support economic integration, and expand electricity trade across Central and South Asia.

Continue Reading

Business

Afghanistan, Uzbekistan and Kyrgyzstan agree on framework to boost trade and transit

Officials said the talks focused on easing the movement of goods, particularly Afghan export products destined for Uzbekistan and Kyrgyzstan.

Published

on

Afghanistan, Uzbekistan and Kyrgyzstan have agreed to strengthen regional trade and transit cooperation following a high-level trilateral meeting held in Tashkent on the sidelines of the INNOPROM Central Asia expo.

Afghanistan’s Minister of Industry and Commerce Nuruddin Azizi met with Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade, and Sanzhar Iskenderovich Asylkulov, Deputy Minister of Economy and Commerce of Kyrgyzstan, to discuss measures aimed at facilitating transit procedures, increasing trade volumes and expanding Afghan exports to Central Asian markets.

Officials said the talks focused on easing the movement of goods, particularly Afghan export products destined for Uzbekistan and Kyrgyzstan.

At the conclusion of the meeting, the three sides agreed to establish a joint working group to oversee implementation of the proposed initiatives. They also reached agreement on Afghanistan’s membership in the exhibition platform.

The event brings together participants from across Central Asia, as well as Russia and Belarus, providing a platform for industrial cooperation and investment.

Officials say Afghanistan’s participation is expected to open new opportunities for local industries to showcase products and strengthen their presence in regional markets, while the agreement marks a step toward deeper economic integration and improved regional connectivity.

Continue Reading

Business

Afghanistan showcases industry at key Central Asia expo

The exhibition brings together government officials, investors and manufacturers from across Central Asia and beyond, including participants from Russia, Belarus, Kazakhstan, Kyrgyzstan and Tajikistan.

Published

on

Afghanistan is making a notable showing at the INNOPROM Central Asia, one of the region’s largest industrial platforms, as Minister of Industry and Commerce Nuruddin Azizi travels to Uzbekistan to attend the event.

The exhibition brings together government officials, investors and manufacturers from across Central Asia and beyond, including participants from Russia, Belarus, Kazakhstan, Kyrgyzstan and Tajikistan.

It is aimed at promoting industrial development, showcasing advanced technologies and expanding regional investment cooperation.

According to Afghanistan’s Ministry of Industry and Commerce, more than 60 Afghan companies are taking part, representing sectors such as cotton, coal, pharmaceuticals and agricultural products.

Officials say the participation highlights efforts to strengthen trade ties and position Afghanistan as a growing economic partner in the region.

INNOPROM Central Asia is widely regarded as a key platform for fostering industrial collaboration and unlocking new investment opportunities across Central Asia.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2025 Ariana News. All rights reserved!