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Afghanistan’s Economic Growth Expected To Reach 3.3% In 2020

According to a World Bank report, Afghanistan’s economy has grown by 2.9% in 2019 and is expected to reach 3.3% in 2020. “Navigating a Sea of Uncertainty”, the latest edition of the twice-a-year Afghanistan Development Update examines recent key economic developments and focuses on the impacts of current uncertainties around the outcome of the September 2019 presidential election, levels of ... Read More »

Afghan Parliament Approves 2020 Fiscal Year’s Budget

The Afghan parliament approved the coming fiscal year’s budget plan. It gained a majority of votes just ahead of the winter recess. The budget totals 428 billion Afghanis, with 289 billion Afghanis allocated for the “ordinary” budget and 139 billion Afghanis for development. The budget plan was previously rejected by the MPs who asked the Finance Ministry to bring balance ... Read More »

Afghan Government Receives Over $11mn In Revenues from ATRA

The Afghanistan Telecom Regulatory Authority (ATRA) has transferred 878 million Afghanis ($11.3mn) to the special account of the Ministry of Finance to be spent through the national budget. These revenues come from a 2.5% on the net incomes of the telecommunication company sales and will be spent on certain project including ATRA’s development projects. Meanwhile, some lawmakers have expressed concerns ... Read More »

Govt Spends Extra 1.6 Billion Afs From Code 91: Commission

The government spent 2.6 billion Afghanis from Code 91 this year, but only 1 billion Afghanis was supposed to be in the emergency fund, according to the agreed-upon budget, say members of the Afghan parliament’s budget and finance commission. Codes 91 and 92 are two emergency funds within the government budget that cannot be accessed except by the president’s order. ... Read More »

India, Afghanistan and Iran Hold Talks on Chabahar Port

Officials from India, Afghanistan and Iran held their second meeting of the Follow-up Committee between the three nations on the Iranian Chabahar Agreement, the Indian External Affairs Ministry said in a statement. “The second meeting of the Follow-up Committee for implementation of the trilateral Chabahar Agreement between India, Afghanistan and Iran at the level of Joint Secretary/ Director General was ... Read More »

Switzerland’s top insurer enters in to Afghanistan market through a local partner

The Insurance Corporation of Afghanistan has signed a partnership agreement with Zurich, one of the top global insurer with over $47 billion annual revenue. Jamal Asfour, Chief Executive Officer of ICA said this is an exclusive partnership which enables Zurich to insure risks in Afghanistan. Such milestone proves ICA’s ability to deliver top notch insurance and risk management solutions to ... Read More »

WB approves $52.5m grant for Afghanistan Gas Project

KABUL: The World Bank’s Board of Executive Directors has approved a $52.5 million grant for the Afghanistan Gas Project that will provide sustainable natural gas supply to independent power producers in the country’s north. Read More »

Central Asian Nations Adopt Ashgabat Initiative To Reduce Trade Barriers

The Central Asian nations of Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan adopted the Ashgabat Initiative on the reduction of barriers to trade and transport in the region. The adoption of the initiative was part of the Days of the United Nations Special Program for the Economies of Central Asia (SPECA) held Nov. 18-21 in the Turkmen capital. According ... Read More »

Flour price down, ghee up in Kabul

KABUL (Pajhwok): The price of flour has dipped while that of ghee increased during the outgoing week in capital Kabul, market source said Saturday. Mohammad Samim, a wholesaler in Kabul’s Mandavi Market, told Pajhwok Afghan News that the price of 49… Read More »

Sar-i-Pul farmers happy with increased onion yield

SAR-I-PUL CITY: Northern Sar-i-Pul province has produced 59,500 tonnes of onion in 2019, showing a 20 percent increase over last year, farmers and officials said on Monday. Farmers told Pajhwok Afghan News the crop had been cultivate Read More »

Germany’s New EUR 72mn Funds to Afghanistan Conditional Upon Good Governance

The State Secretary of the German Federal Ministry for Economic Cooperation and Development (BMZ), Martin Jaeger, together with Dr Mohammad HumayonQayoumi, Afghanistan’s Acting Minister of Finance, affirmed the continued German support to Afghanistan. By the end of 2019, the German government via the BMZ is making an additional AFN 6.2 billion(EUR 72 million) available to Afghan-German Cooperation projects, bringing the ... Read More »

Govt departments, residents owe DABs 900m afs

KANDAHAR CITY: Government departments and residents owe about 900 million afghanis to Da Afghanistan Breshna Shirkat (DABS) in unpaid power bills in southern Kandahar province, an official said on Sunday. DABS chief for Kandahar Amanullah. Read More »

Gold price up, other items remain stable in Kabul

KABUL: The price of gold has increased while that of other items remains steady during the outgoing week in capital Kabul, market sources said. Haji Fawad Ahmad Salehzada, a jeweler in Timor Shahee area of Kabul, Read More »

50pc of big taxpayers registered in online system

KABUL (Pajhwok): The Ministry of Finance (MoF) says it has set up an online system for collecting taxes in a more efficient manner. Amina Ahmadi, head of Afghanistan Revenue Department, said in an exclusive interview with Pajhwok Afghan News his… Read More »

Pine Nut Products To Increase By 10 Percent This Year

The Ministry of Agriculture, Irrigation and Livestock (MAIL) has predicted that Afghan farmers will collect up to 24,000 tons of pine nuts this year, which will be 10 percent higher than last year. Pine nuts, a prominent Afghan export, are shipped mostly to China and the UAE. Back in February, an Afghan investor put up $5 million to make a ... Read More »

Third Annual India-Afghanistan Trade Show Kicks Off in New Delhi

The third annual Passage to Prosperity: India-Afghanistan International Trade and Investment Show was officially inaugurated by U.S. Ambassador to Afghanistan John R. Bass and representatives of the Indian and Afghan governments and private sector in New Delhi on Tuesday. The U.S. Agency for International Development (USAID) sponsors the annual exhibition of premier Afghan products to stimulate India-Afghanistan trade and facilitate ... Read More »

$348m ADB grant signed to expand Kandahar’s Dahla Dam

KABUL: Afghanistan and the Asian Development Bank (ADB) on Wednesday signed a $348.78 million grant to help in the development of water resources in southern Kandahar province through the expansion of Dahla Dam, the country’s second… Read More »

SAARC Development Fund Disburses $13mn For Purchase of Drukair ATR 42-600

The SAARC Development Fund (SDF) disbursed loan amount USD 13 million to Drukair Corporation Limited for the purchase of Drukair ATR aircraft. This is following the agreement signed between the Ministry of Finance, Royal Government of Bhutan, SDF and Drukair on 13 August 2019. Documents were signed by the Finance Minister of Bhutan, Lyonpo Namgay Tshering, CEO of SAARC Development ... Read More »

Afghanistan Exports Talc to China For First Time Via Hairatan Railroad

Afghanistan exported 1100 tons of talc to China for the first time from Mazar-e-Sharif through the Hairatan railroad. The goods will arrive in China, crossing Uzbekistan and Kazakhstan, in the next 12 days in 41 wagons, according to Afghan Transport Minister Yama Yari. “The Hairatan port is the start of a new trade season between China and Afghanistan. It has ... Read More »

Tackling Corruption in Mining: Gov’t Signs Agreement with Afghan-German Cooperation

Acting Minister of Mines and Petroleum, Nargis Nehan, signed the implementation agreement for the next phase of the program for promoting good governance in Afghanistan’s extractive sector. The project aims at increasing state revenues, promoting investment and curbing corruption in the sector. 33 representatives from the German Cooperation and the Ministry of Mines and Petroleum (MoMP) including 7 women attended ... Read More »