KABUL - Finance Minister Omar Zakhilwal presented the draft budget for the next fiscal year to the Wolesi Jirga on Wednesday, a day after the proposed accounts were approved by the upper house.

For the next financial year, the government had proposed development spending worth 170 billion afghanis (about $3.20 billion) and a general budget of 196 afghanis, the minister informed the assembly.

He said 70 percent of the development budget was based on aid pledges while 30 percent would be financed with the government's own revenue. Similarly, national revenue will account for 55 percent of the general budget, with the remaining 45 percent depending on foreign assistance.

Zakhilwal added the security sector had been allocated 39.6 percent of the budget, with government departments and natural resources getting 15.6 percent. Similarly, 15.1 percent of the proposed funds will go to the education sector and 9.6 percent to agriculture and rural development.

According to the draft budget, 3.8 percent will be spent on public health, 4.2 percent on good governance and rule of law, 2.8 percent on the economy and 1 percent on social security. The presidential discretionary fund has been projected at 8.3 percent.

An amount of $ 30 million has been earmarked for the balanced development of Kunar, Nuristan, Daikundi, Paktia, Paktika, Zabul, Uruzgan and Badghis provinces, as well as the welfare of the nomadic Kochi tribe.
Zakhilwal ticked off "some politicians and analysts" for painting a negative economic picture of post-Afghanistan. They were fuelling concerns among the people regarding the afghani's free fall, the minister alleged, without naming anyone.

As a result of the gloomy predictions, investors had lately been shy about coming to Afghanistan and import levels had fallen drastically, he acknowledged, saying the masses were worried about the situation.

But he ruled out any economic crisis after the withdrawal of foreign forces, because the international community had pledged to assist Afghanistan over the longer haul.

Zakhilwal urged lawmakers to pass the draft budget as early as possible. The next financial year begins on December 21. (Pajhwok)