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Afghan Finance Minister warns of economic crisis

in Afghan Business

Afghan Finance Minister warns of economic crisis

Minister ZakhilwalIn an exclusive interview with BBC News, Afghan Finance Minister Hazrat Omar Zakhilwal warned of a possible economic crisis to hit Afghanistan as a result of the election deadlock.

According to Zakhilwal, the political impasse has resulted in capital flight which amounts to almost USD 6bn.

He warned the government would be forced to downsize and reduce salaries of employees in case of an economic crisis.

“If [the succession crisis] goes into September and even beyond, then we could run into a situation where we would find it difficult to pay salaries,” said Zakhilwal, who supports Presidential candidate Dr. Ashraf Ghani.

President Karzai called on the candidates to put an end to the monthslong standoff over election results and announced Sunday that a new president must take office on 02 September.

This comes after the Finance Ministry had announced a 20% reduction in government revenues this year amid the delays in the election process.

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