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A 6% increase in National budget for upcoming Afghan fiscal year

in Afghan Business

A 6% increase in National budget for upcoming Afghan fiscal year

Afghan Finance Ministry has submitted the draft national budget with a total outlay of 461.8bn AFN for the upcoming fiscal year to the Senate for approval.

Addressing the Senate, Finance Minister Eklil Hakimi said the upcoming budget was 6% higher than the accounts of the outgoing fiscal year and the bulk of the funds have been earmarked for security, education and health sectors.

“34% of the budget would be secured from domestic revenue and the rest would be provided by the international community. 50% of the general budget and 89% of the development budget would be fulfilled from external sources,” said Hakimi.

Of the total budget, 61% has been set aside as general expenses and the remaining as development budget.

Minister Hakimi added that 8.5 percent of the development budget had been set aside for environment production, agriculture sector, health, economic and rural development.

The Senate Finance and Economic Commission would review the budget before it is submitted to the Lower House. After it is approved by the Lower House, the draft budget is sent to the president for signing.


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