DUSHANBE, April 13, 2009, Asia-Plus — The Ministry of Finance (MoF) has endorsed a program of financial crisis response measures that include balanced fiscal regulation aimed at transformation of the country’s budget for 2009 into the budget for management of crisis.
According to press release posted on a MoF’s website on April 13, the ministry proposes to pay a special attention to the macroeconomic environment and fulfillment of the revenue part of the budget, cooperation with international financial institutions, requirements in resources and further macroeconomic measures.
The MoF program of long-term measures includes the following priorities:
1) Strengthening of social protection of the population, including enhancement of employment situation;
2) Development of the strategic sectors of economy and support for enterprises investing in the development of production and improvement of labor productivity;
3) Increase in domestic production should become foundation of post-crisis rehabilitation and further development. Special attention should be given to reducing dependence on external factors;
4) Key priorities of budgetary expenses should include development of human resources, education and health. Projects for construction of infrastructure facilities necessary for raising efficiency of the country’s economy should be implemented but with use of fewer funds;
5) Removal of administrative pressure to promote development of business. New measures are needed to ensure development of small business in the country under the conditions of the financial crisis;
6) Economy should be based on the developed financial system. It is necessary to take efforts to enhance functioning of the financial sector, including development of banking system and stock market.
The document also notes that the ministry ahs applied to donor community, asking to provide assistance to Tajikistan’s economy through supporting the budget, extending appropriate programs aimed at enhancement of social protection of the population, creation of new jobs, and keeping existing programs aimed at supporting structural reforms and providing technical aid.
