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Declining foreign aid shrinks Afghan ministries' budgets

in Afghan Business

Declining foreign aid shrinks Afghan ministries' budgets

zakhilwalThe Senate summoned Finance Minister Dr. Hazrat Omar Zakhilwal to confer on the government’s budget draft for next year.

Minister Zakhilwal said the budget of a number of ministries would be lower in 2014 than in the past due to the decline in foreign aid.

This means some belt-tightening for the ministries. However, it might not be that difficult of a task for some of the  ministries, who have failed to spend their allocated budgets in the past.

Last year, 11 ministers were summoned by the Parliament for failing to utilize their development budgets.

Minister Zakhilwal added that the deteriorating construction activities and disappointing investment situation would adversely affect the internal revenue of the Ministry.

A number of Senators had found the proposed budget for the upcoming year imbalanced and called on the Ministry to draft a new budget.

With virtually close to 100% of the national budget depended on foreign aid money, the Ministry is not in the position to meet the financial needs of every province.



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