DUSHANBE, April 13, 2009, Asia-Plus — To finance the plan of actions to mitigate effects of the global financial crisis the government needs additional 180-200 million U.S. dollars, Finance Minister Safarali Najmiddinov announced at a meeting of heads of the key ministries of the economic bloc with representatives of donor community in Dushanbe on April 13.
The meeting has discussed issues related to impact of the global economic crisis on Tajikistan.
The finance minister noted that the anticrisis measures would be financed mainly due to state funds. “However, our financial opportunities are limited, and therefore, the country puts its hopes on attraction of financial resources from abroad and support of donors,” Najmiddinov said.
Presenting Tajikistan’s tax/budget policy developed to address effects of the global financial crisis, the minister noted that short-term fiscal measures of macroeconomic stabilization included balanced fiscal regulation aimed at transformation of the 2009 budget into the crisis management budget and a number of other measures connected with macroeconomic management as well as ensuring a system of social protection of the vulnerable sections of the population and retention of social expenses, including assistance to returning labor migrants.
Najmiddinov reminded that the revenue part of the budget had been reduced by 9.8 percent and the expenditure part of the budget had been reduced by 9.6 percent following amendments made to the country’s law on the national budget for 2009.
He noted that support donors had provided to the 2009 budget amounted to 72 million U.S. dollars, including 20 million dollars provided by the World Bank, 40 million dollars provided by the Asian Development Bank and 12 million dollars provided by the European Commission.
