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Afghanistan receives USD 75mn in bonus from IMF

in Afghan Business

Afghanistan receives USD 75mn in bonus from IMF

The Afghanistan government receives USD 75mn in bonus from the International Monetary Fund (IMF) after surpassing the set target for revenue collection this year by 21%.

Addressing a press conference in Kabul on Saturday, Afghan Finance Minister Eklil Hakimi said the government collected 120.75bn AFN in revenue this year, compared to 100.05bn AFN in 2014.

The set target for Afghanistan was 114.20, added Minister Hakimi.

“IMF is providing the USD 75mn in bonus after Afghanistan surpassed its revenue target in 2015,” said Hakimi.

He linked the increase in revenue collection to transparency improvement in customs offices, increased duties and tariffs, collection of tax from mobile users, imposing fees on flights from Europe crossing Afghanistan territory and the transfer of customs security officials from the Interior Ministry to the Finance Ministry.

The Afghan government has to boost domestic revenue in order to receive further financial support from the international community.

This year’s revenue has mostly come from increased duties and tariffs, which might harm future investment and business in the country.

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