DUSHANBE, November 18, 2015 Asia-Plus — Tajikistan’s lower house (Majlisi Namoyandagon) has approved the state budget for 2016. Tajik finance minister said the state budget for 2016 stood at 18.306 billion, nearly 3.3 billion somoni or 19.8 percent more compared to this year.
A regular sitting of the second session of the Majlisi Namoyandagon of the fifth convocation, presided over by its head, Shukurjon Zuhurov, was held on November 18.
Finance Minister Abdusalom Qurboniyon said state budget indicators reflect the economic and social development of the country. Social spending will account for 44 % (more than 8 billion somoni) of budget allocations.
The budget reportedly projects expenditure of 3.1 billion somoni for enhancement of the education sector and 1.3 billion somoni are expected to be spent on the health sector.
The budget also earmarks 3.1 billion somoni for payment of pensions and allowances as well as social protection of the population.
The minister noted that a special attention would be given to financing of the priority sectors, including construction, energy and transportation sectors. The 2016 state budget reportedly earmarks 6.2 billion somoni for these sectors.
“The state budget for 2016 also stipulates providing preferential loans for construction of the National Theater in Dushanbe and five secondary schools in various regions of the country,” the minister said.
According to him, the budget projects expenditure of 758 million somoni for servicing the country’s external debt.
In 2016, 120 million somoni are expected to be spent for development of entrepreneurship, according to the minister.
Meanwhile, the head of the Majlisi Namoyandagon Committee on Economics and Finance, Sharif Rahimzoda, noted that gross domestic product (GDP) was projected to rise to 57.7 billion somoni next year, while the inflation rate was expected to be 7.0 percent.
“The exchange rate of the national currency, the somoni, against the dollar will be 6.96:1.00 next year and the budget deficit will amount to 0.5 percent of GDP,” Rahimzoda said.
The deputies of the Majlisi Namoyandagon unanimously approved the law “On State Budget of Tajikistan for 2016.
