Financial Crime World

Afghanistan’s Revenue Soars to Afs 2.4 Billion

Record-Breaking Revenues for Fiscal Year 1390

Kabul, Afghanistan - The Afghan government has announced a significant increase in revenue for the fiscal year 1390, with total revenues reaching a staggering Afs 2.4 billion.

Extractive Industry Revenue Sees Significant Growth

According to the Ministry of Finance’s annual fiscal report, the government collected Afs 166 million from the extractive industry through new measures such as:

  • License fees
  • Royalty fees
  • Land fees

This represents a significant increase compared to the previous year’s revenue from the same sector.

Social Contribution Grows

The report also highlights the growth in social contribution, which generated almost Afs 3 billion during the fiscal year 1390. This represents an increase of over one billion Afghani compared to the previous year’s social contribution of Afs 1.8 billion. The ratio of social contribution to GDP has also improved to 0.3% from 0.2% in the previous year.

International Community’s Financial Aid Boosts Government Expenditures

In addition to domestic revenues, the Afghan government received significant grants from the international community to finance its expenditures. During the fiscal year 1390, total grants of Afs 92 billion were received for core budget expenditures, a total increase of 12 billion (15%) compared to the previous year.

Breakdown of Grants

  • Operating expenditures: increased by Afs 6 billion (11%) to reach Afs 60 billion in 1390
  • Development budget expenditure: saw an increase from Afs 25.5 billion in 1389 to Afs 32 billion in 1390

The donor grants are received through various trust funds and are spent on various programs and projects in the operating and development budgets. The government uses these grants to finance its expenditures, including:

  • Wages and salaries of security staff
  • Infrastructure development
  • Humanitarian assistance

“We are pleased to see an increase in revenue and a significant boost from international community’s financial aid,” said a spokesperson for the Ministry of Finance. “This will enable us to continue our efforts to build a stable and prosperous Afghanistan.”

Conclusion

Overall, the Afghan government’s fiscal year 1390 report highlights the country’s economic progress and its reliance on domestic revenues and international support.