DUSHANBE, 05.12.2022 (NIAT Khovar) – Tajikistan plans to attract about $1.5 billion in external borrowing in the next 3 years. These funds will be directed to the implementation of state investment projects. This was stated by the Minister of Finance Faiziddin Kahhorzoda on December 1 during a discussion of the draft law on the country’s state budget for 2023 and forecast indicators for 2024-2025 in the Assembly of Representatives.

The program of external borrowings for 2023, according to the minister, currently includes 60 loan agreements, of which 55 are valid, and another 5 are new. The cost of new projects is almost a third of the total amount of funds that are planned to be raised — $432.9 million. They relate to various areas, including energy, transport communications, water supply and agriculture.

According to Kahhorzoda, the revenue part of the state budget in 2023 will amount to more than 37.1 billion somoni, and the expenditure part — 38.1 billion somoni. Budget revenues for next year, compared to 2022, will increase by 12.3%, or 4.1 billion somoni.

Meanwhile, the state budget expenditure item in 2023 will increase by more than 4.5 billion somoni. The budget deficit is projected at 0.8% of GDP, or 1.3 billion somoni.

The minister explained that the proposed project was designed to implement social and economic policies to ensure the sustainable development of the economy. It should make it possible to reduce the impact of negative factors, serve the development of real infrastructural spheres, and improve the standard of living of the population.