Taliban's first annual Afghan budget foresees $501 million deficit

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Taliban's first annual Afghan budget foresees $501 million deficit
Afghanistan is dealing with rising security issues and an economic meltdown, while aid agencies figure out how to help 50 million Afghans without giving the Taliban direct access to funds.
By REUTERS
Published: MAY 14, 2022

Afghanistan faces a budget deficit of 44 billion Afghanis ($501 million) this financial year, the country's Taliban authorities said on Saturday without clarifying how the gap between expected revenues and planned spending will be met. Announcing the first annual national budget since the Taliban took over the war-torn country in August last year, Deputy Prime Minister Abdul Salam Hanafi said the government foresaw spending of 231.4 billion Afghanis and domestic revenue of 186.7 billion. "The revenues are collections from departments related to customs, ministries and mines," spokesman for the Finance Ministry Ahmad Wali Haqmal said.

How did Afghanistan reach this point?

Since the 2001 US-led invasion of Afghanistan, successive Western-backed governments relied mostly on foreign aid. In August 2021, foreign forces withdrew from Afghanistan, leading to the collapse of the government and a Taliban takeover. The world is yet to officially recognize the Taliban government. The country is dealing with rising security issues and an economic meltdown, while aid agencies figure out how to help 50 million Afghans without giving the Taliban direct access to funds.

more............ https://www.jpost.com/business-and-innovation/banking-and-finance/article-706683
 

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