English | دری

Afghan government’s treasury emptied due to protracted presidential elections

in Afghan Business

Afghan government’s treasury emptied due to protracted presidential elections

finance ministryThe long-drawn-out election process has hit the Afghan government’s treasury that is currently meeting budgetary needs only through day-today revenue collection.

Afghan Deputy Finance Minister Mustafa Mastoor said the government would be unable to pay public servant salaries if the situation persisted.

Finance Ministry officials have reported that the government has already used up close to USD 500mn that was held in the treasury.

“The money we collect is spent on a daily basis. We have already spent USD 496mn that was held in the treasury in the beginning of the year, but we had to use it as we faced a budget deficit,” said Mastoor.

The election process has cost the Afghan economy some USD 5bn with another USD 6bn gone to foreign countries.

While pessimism surrounding Afghanistan’s economy is spreading across the country, some experts believe that western allies would stand by Afghanistan during such hard situations and extend a helping hand.



Related Articles

Afghanistan to establish a stock market in 6 months- AISA

According to the Afghanistan Investment Support Agency, a stock market would be established in Afghanistan in the next six months.

Unemployment and domestic violence cited as main factors behind high Afghan emigrations

According to the Ministry of Labor, Social Affairs, Martyrs and Disabled (MoLSAMD), a growing number of Afghans are forced to

No international pipeline firm ready to implement TAPI gas project

Billed as ‘Peace Pipeline’ for the troubled South-Asia region, the US-backed $9-billion TAPI gas pipeline has got stuck with no international pipeline

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.