DUSHANBE, October 22, 2010, Asia-Plus -- On Friday October 22, the Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) discussed implementation of the national budget over the first nine months of this year.

Safarali Rajabov, the chairman of the Majlisi Namoyandagon Committee on Economics and Finance, in particular, noted that the revenue part of the budget has received over the report period 217.2 million somoni less than it was originally planned (2.3 percent shortage).  “Over the report period, tax arrears have amounted to 205.6 million somoni and shortage from aluminum sales has amounted to 12.6 million somoni,” Rajabov said.

Speaking at the meeting, Minister of Finance Safarali Najmiddinov noted that as of October 1, 2010, Tajikistan’s external debt amounted to 1.79 billion U.S. dollars, or 31.8 percent of the country’s gross domestic product (GDP).

According to him, the external debt management strategy for 2010-2012 has been developed.  The strategy is aimed to prevent increase of the external foreign debt to 40 percent of GDP, said the minister.  “Increase of the external debt to 40 percent of GDP will pose a threat to the national budget,” Najmiddinov noted.

“Today, the government prefers to take only preferential loans because repayment of them is not burdensome for the country’s budget,” said the finance minister, “This year alone, our country has received 10 million euros from the European Union and a US$20 million grant from the World Bank for supporting the national budget.”

He also noted that the Stabilization Fund has received 50 million somoni this year and 20 million somoni of that amount  would go to repaying the public debt to Uzbekistan.

The Tax Committee head Gurez Zaripov noted that the tax arrears had resulted mainly from the global financial and economic crisis and Uzbekistan’s halting of freight cars bound for Tajikistan.

“Due to the global financial crisis, the country’s external trade turnover has decreased by 30 percent compared to last year,” Zaripov said.