Thursday, December 7, 2023

Afghanistan suffers $5 billion financial loss due to election deadlock

Immigration News

Ahmad Shah Ghanizada
Ahmad Shah Ghanizada
Ahmadshah Ghanizada is the deputy editor in chief for The Khaama Press Agency who manages and overlooks the English edition.

Dr. Omar ZakhilwalAfghanistan has suffered over $5 billion financial loss due to political impasse as a result of election deadlock, Finance Ministry officials said.

Finance Minister, Hazrat Omar Zakhilwal, has said the deadlock has also resulted in capital flight from the country which amounts to almost $6 billion.

In an interview with the BBC Farsi, Zakhilwal, expressed concerns that the negative impact of financial loss will remain for a longer period of time.

Zakhilwal also warned of economic crisis if the election deadlock was not resolved and the vote results was not released on time.

He said the deadlock has resulted to reduction in government revenue and warned that country would move towards an unstable condition if the deadlock persists.

Zakhil said the government will be forced to cut jobs and reduce salaries of the government employees in case of an economic crisis in the country.

This comes as the Ministry of Finance had earlier informed of a 25 percent reduction in government revenues as compared to last year.

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