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Council of Ministers approved a total budget of 231 billion Afghanis for 1401 fiscal year, of which 27.9 billion is allocated for development programs and 203 billion for regular budget.
Today, Saturday, May 15th, the Taliban Ministry of Finance announced the approval of the 1401 fiscal budget, noting that, unlike previous years, the budget is wholly subsidized by domestic revenues.
This year’s budget has a deficit of roughly 44 billion afghanis, according to the statement.
The announcement did not explain what the 203 billion afghanis would be used for.
Nevertheless, political developments in Afghanistan over the last nine months have shattered the previous government’s development plans, and the budget for carrying out those plans has been frozen for the past nine months.
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," front man for the Finance Ministry Ahmad Wali Haqmal said.
Since the 2001 US-led invasion of Afghanistan, successive Western-backed governments relied mostly on foreign aid.