Members of Tajikistan’s lower chamber (Majlisi Namoyandagon) of parliament have endorsed amendments proposed by the government to the country’s law on the national budget for 2020
A regular sitting of the Majlisi Namoyandagon, presided over by it head, Muhammadtoir Zokirzoda, took place on June 30.
Presenting the amendments to lawmakers, Finance Minister Faiziddin Qahhorzoda said that due to the negative impact of novel coronavirus on Tajikistan’s economy, the budget revenues target will not be fulfilled this year.
According to him, the 2020 budget’s revenue part will be cut by 2.239 billion somoni.
Besides, some items of the budget expenditures, with the exception of social spending, will be cut by 1.822 somoni, Qahhorzoda noted.
The government also cuts funding for loan- and grant-financed investment projects by 977 million somoni and for government-financed projects by 81 million somoni.
Meanwhile, to support the medical sector and raise wages of healthcare workers combating COVID-19 as well as to support sector affected by coronavirus pandemic and construction of the Roghun hydroelectric power plant, additional 1.9 billion somoni will be provided.
As it had been reported earlier, the 2020 budget’s revenues had previously been projected to stand at 26.1 billion somoni and its expenditures had been projected to stand at 26.4 billion somoni.
The budget deficit was expected to amount to 349.6 million somoni, which is 0.4 percent of the country’s gross domestic product (GDP).
Social spending was projected to account for 44.4 percent (11.7 billion somoni) of budget allocations. The budget revenue part tax and non-tax receipts (government revenue not generated from taxes) to the national budget for 2020 had been projected to stand 2.239 billion somoni.
However, due to the negative impact of novel coronavirus on Tajikistan’s economy, the budget revenues target will not be fulfilled this year, the minister said.
Besides, some items of the budget expenditures, with the exception of social spending, will also be cut by 1.822 somoni, Qahhorzoda noted.
The government also cuts funding for loan- and grant-financed investment projects by 977 million somoni and for government-financed projects by 81 million somoni.
Meanwhile, to support the medical sector and raise wages of healthcare workers combating COVID-19 as well as to support sector affected by coronavirus pandemic and construction of the Roghun hydroelectric power plant, additional 1.9 billion somoni will be provided.
As it had been reported earlier, the 2020 budget’s revenues had previously been projected to stand at 26.1 billion somoni and its expenditures had been projected to stand at 26.4 billion somoni.
The budget deficit was expected to amount to 349.6 million somoni, which is 0.4 percent of the country’s gross domestic product (GDP).
Social spending was projected to account for 44.4 percent (11.7 billion somoni) of budget allocations.
The Ministry of Finance (MoF) says that over the first four months of this year, Tajikistan’s national budget has reportedly received more than 600 million somoni (equivalent to some 60 million U.S. dollars) less than it was planned.
According to a MoF, the country’s national budget has received 6.823 billion somoni over the first four months of this year, which is 91.9 percent of the revised plan for this four-month period.
The budget shortfall has resulted from decrease in the volume of the basic tax revenues, an official source within the MoF told Asia-Plus in May, noting that the share of taxes in the budget revenues exceeds 75 percent.
“In connection with this, the ministry had to curtail some expenditures, including the cost of purchasing vehicles, equipment and fuels, current expenses, major repairs and construction costs,” the source said.
According to the preliminary data from the MoF, the country’s national budget can receive more than 2.3 billion somoni less by the end of this year.
