Tajikistan drafts 2017 budget keeping deficit at 0.5% of GDP

By bne IntelliNews September 23, 2016

The Tajik finance ministry has prepared the draft of the 2017 state budget that seeks to keep the deficit at 0.5% of GDP, Asia-Plus reported on September 22. 

The Tajik government is known for relying on international donors to fill budgetary gaps. The government only succeeded to meet its budget goals for 2015 thanks to $60mn in budgetary assistance from the Asian Development Bank granted to the country in December.

The budget draft, which has been sent for approval to the government, envisages budget revenues of TJS19.4bn (€2.2bn), or 6.5% higher than the approved for 2016. In the first eight months of 2016, the state budget revenues amounted to TJS11.02bn, which is 2.8% below the plan. 

The remittance dependent country saw an annual decline in remittances of 11.8% from Russia in the first half of 2016, where most Tajik migrants go for work. However, the decline eased from a 39.6% y/y plunge registered in the first half of 2016. That suggests a recovery that could lead to a sharper increase in the Tajik budget’s revenues than in the previous two years.

The state budget will remain socially oriented: 40% of the budget will be spent on the social sector.

 

Related Articles

Azerbaijan's IBA sees assets fall 29% y/y in 2017 after debt restructuring

The assets of the International Bank of Azerbaijan (IBA), the largest lender in the country, contracted by 28.9% y/y to AZN8.7bn ($5.1bn) in 2017, the state-controlled bank reported on January 10. ... ... more

Macedonia issues €500mn 7-year Eurobond with historic low interest rate

Macedonia issued on January 11 a seven-year €500mn Eurobond with an annual interest rate of 2.75%, the finance ministry said. This is the sixth Eurobond issue placed so far by Macedonia’s ... more

IMF sees economic recovery in Iranian non-oil sectors but urges shoring up of banking system

Iran’s economy is starting to recover more rapidly from years of international sanctions but the country urgently needs to shore up its banks, a senior International Monetary Fund official told ... more

Dismiss