Tajikistan’s lower chamber (Majlisi Namoyandagon) of parliament has endorsed a draft law on the country’s national budget for 2023.
A regular sitting of the Majlaisi Namoyandagon, presided over by its head, Mahmadtoir Zokirzoda, took place on December 1.
Presenting the bill to lawmakers, Finance Minister Faiziddin Qahhorzoda said state budget indicators reflect the economic and social development of the country.
Social spending will account for more than 50% of budget allocations (18.6 billion somonis), with 7.2 billion somonis earmarked for public education alone, according to Khovar news agency.
The budget reportedly projects expenditure of 9.4 billion somonis in the social protection sector.
The budget earmarks 3.4 billion somonis for the country’s external debt service.
The budget’s revenues are projected to stand at 37.1 billion somonis, which is 4.1 billion somonis or 12.3 percent more than the revenue part of this year’s budget.
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 budget expenditures are projected 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 is expected to stand at one billion somonis (0.8 percent of the country’s gross domestic product).
After discussion, the members of the Majlisi Namoyandagon unanimously approved the law “On state budget of Tajikistan for 2023”.
Only the Majlisi Namoyandagon shall adopt the Law on the State budget. The Majlisi Namoyandagon shall control over execution of the budget.
