The Majlisi Namoyandagon (Tajikistan’s lower house of parliament) has endorsed a draft law on amendments proposed by the government to the country’s law on the national budget for 2019. The amendments have reportedly caused a four-fold increase in the budget deficit.
A regular sitting of the Majlisi Namoyandagon, preside over by its head, Shukurjon Zuhurov, was held on December 25.
Presenting the bill to lawmakers, the Minister of Finance Faiziddin Qahhorzoda said that the 2019 national budget earmarked 2 billion somoni for completion for the construction of the Roghun hydroelectric power plant (HPP).
According to him, the launch of the second unit of the Roghun HPP into operation that took place in September this year has changed the government’s plans.
“Ultimately, we have sent additional funds, obtained from selling Eurobonds and republican reserves of precious metals and stones, to completion of the construction of the Roghun HPP,” the minister noted.
According to him, about 613 million somoni earned from selling precious stones and metals and 1.2 billion somoni earned from selling Eurobonds “have been held at the disposal of the government by the beginning of the outgoing year.” These funds were reportedly included in the revenues and expenditures of the 2019 budget.
“In this regard, the expenditure part of the budget for 2019 stood at not 24,4 billion somoni but at 25.6 billon somoni, and thereby the deficit of the 2019 budget was equal not to 0.5 percent but to 2.0 percent of the 2019 budget revenues,” Qahhorzoda said.
