DUSHANBE, March 16, 2016, Asia-Plus – Over the first two months of this year, Tajikistan’s national budget has received some 192 million somoni (equivalent to some 25 million U.S. dollars) less than it was originally planned, according to the Ministry of Finance (MoF).
In January-February, the budget has reportedly stood at 1.8655 billion somoni, which is 90.7 percent of the adjusted plan.
In January, the budget reportedly received nearly 130 million somoni (equivalent to 17 million U.S. dollars) less.
According to data from a MoF, a total volume of the national budget in January stood at 926.7 million somoni, which was only 87.7 percent of the planned performance.
Meanwhile, experts consider that overrated targeted indicators of Tajikistan’s budget for 2016 may lead to the taxation pressure on business with further decline in economic activity in the country.
Tajikistan Economic Review
for January 2016 prepared by members of the Evidence Based Economic Policy Making team of the Framework and Finance for Private Sector Development Program (FFPSD), in particular, notes that Tajikistan’s budget for 2016 is based on an optimistic economic growth forecast.
Moreover, the budget for 2016 is based on indicators of gross domestic product (GDP) for 2015 projected to stand at 52.8 billion somoni but not on country’s actual GDP standing at 48.4 billion somoni, the report said. This will lead to setting high targeted indicators of the budget, according to the report.
Therefore, business will be faced with the taxation pressure this year again.
Such a tough fiscal policy carries risk of succeeding decline in economic activity in the country, the report stresses.
A total volume of Tajikistan’s national budget for 2016 is projected to stand at 18.306 billion somoni, which is 19.9 percent or 3.3 billion somoni more compared to the country’s budget for 2015.
