The government session that took place on October 31 endorsed a draft law on the national budget for 2023.
The government-run news agency Khovar says the revenue part of the budget for 2023 is projected to stand at 37.1 billion somonis, which is 4.1 billion somonis or 12.3 percent more than revenues of the national budget for this year.
The budget expenditures are reportedly forecasted to stand at 38.1 billion somonis, which is 4.5 billion somonis or 13 percent more than the expenditures of the national budget for 2022.
Thus, the budget deficit will stand at one billion somonis.
The 2023 budget indicators would reflect the economic and social development of the country.
It is to be noted the budget 2023 revenues are compared to the amount of budget 2022 revenues projected in November last year.
Meanwhile, in October this year, amendments were made to the country’s law on the national budget for 2022 and under those amendments the amount of revenues was reduced from 33 billion somonis to 32.6 billion somonis.
Under the mentioned amendments, the amount of the budget 2022 expenditures was increased from 33.6 billion somonis to 34.2 billion somonis.
Thus, as a result of amendments made to the country’s law for 2022 in October this year, the last year’s budget deficit increased from 624 million somonis (0.6% of the country’s GDP) to 1.624 billion somonis (1.4% of the country’s GDP).
The Government of Tajikistan submits the draft law on the budget and the determination and repeal of taxes to the Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament). Only the Majlisi Namoyandagon adopts the Law on the National Budget and it controls over execution of the budget.
