KABUL (SW): Finance Minister Eklil Hakimi presented the annual budget worth afn 461 billion for the year 2016 to the Wolesi Jirga on Wednesday.
The new fiscal year in Afghanistan begins in the month of Jaddi/ Marghomay (mid-December). Hakimi presented the budget to the WJ after consultation and debate over it in the Masharano Jirga (lower house).
The budget for 20125-16 is 6 percent larger in comparison to the previous year. It has earmarked afn 283.3 billion for expenditures and afn 188.5 for development.
For the previous year, total budget of afn 422 billion were earmarked out of which afn 282 billion were for expenditure and afn 140 billion for development.
Afghanistan has long been facing shortage of revenue hence relying heavily on foreign aid and funds to keep the economy afloat.
Nearly 60 percent of the national budget is supported by funds and aid while only 4o percent comes from the government revenue.
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