KABUL, Afghanistan – The Ministry of Finance (MoF) said it has collected more than 24 billion Afs in revenue from customs offices within the first three months of the fiscal year – a promising figure for a country that has been suffering from financial loose since the fall last August.
The ongoing political crisis has “hit hard” private sectors in Afghanistan, where businesses were halted and put to uncertainty, according to a latest survey conducted by the World Bank, private companies have laid off more than a half of their employees on average.
“Approximately, so far, more than 24.16 billion Afs has been made in revenue,” said Ahmad Wali Haqmal, a spokesman for the MoF, as TOLOnews quoted. “This is good revenue compared to the previous years.”
The Afghanistan Chamber of Commerce and Investment (ACCI) said that the exports and imports have had a positive impact on this year’s revenue, adding the surge in exports of coal caused the rise in the country’s annual revenue.
“The previous year’s first period (three months), the exports were worth nearly $200 million, and it is now more than $400 million,” said Khanjan Alokozai, a member of the ACCI. “Last year, we had one billion dollars in exports and this year I hope it increases to one and half billion dollars.
Meanwhile, Afghan economist expressed joy over the increased revenue, saying such a progress is promising and it could help the country improve its economy amid ongoing concerns about poverty across Afghanistan.
“The exports caused an increase in investment and it helps to develop of the country’s economic status,” said Seyar Qureshi, an economist, as local media quoted.
Based on the available numbers of the MoE, more than five billion Afs from Islam Qala port, 3.5 billon Afs from Torkham crossing, nearly three billon Afs from Spin Boldak were made in revenue for the government within the first three months of the fiscal year, according to the report.
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Earlier,the United States administration said it is working with Taliban leadership on a mechanism to allow the use of its central bank reserves without giving the so-called Islamic Emirate free rein In order to tackle the ongoing hunger crisis in Afghanistan.
The efforts aim to avert a humanitarian disaster, which the aid groups estimate could harm half the population of Afghanistan’s 40million citizens.
United Nations High Commission for Refugees (UNHCR) said in May that more than half of Afghanistan’s population is dependent on life-saving humanitarian assistance and protection, suggesting one in two people do not know where their next meal come from.
Da Afghanistan Bank (also known as the Afghan central bank) funds have been frozen since the collapse of former government, paralyzing its operations that regulate all banking and money handling in Afghanistan.
In February, the U.S. President Joe Biden issued an executive order setting wheels in motion to free up half of the $7 billion in frozen Afghan central bank assets on U.S. soil to help the Afghan people while holding the rest to possibly satisfy terrorism-related lawsuits against the Taliban, according to the U.S.News.