DUSHANBE, November 8, Asia-Plus -- The national budget for 2008 stipulates conditions for establishing stabilizing fund and opportunely servicing the national debt, Ismoil Talbakov, member of the Majlisi Namoyandgon (Tajikistan’s lower chamber of parliament) Committee on Budget, Economy, Finance and Taxes, said in an interview with Asia-Plus.  

According to him, all foreign countries and international organizations have made sure that Tajikistan is able to repay its external debts.   “Due to investment projects and foreign loans the revenue part of the 2008 budget stands at 1.3 billion somonis, which is 30 percent more than in 2007,” MP said, noting that the 2008 budget earmarks 152 million somonis (equivalent to $44 million) for repaying the country’s external debts.

We will recall that according to Deputy Finance Minister Sherali Safarov, Tajikistan’s external debt increased from $829.8 million to $1.07 billion over the first nine months of 2007, amounting to 30.5 percent of the country’s gross domestic product (GDP).  

Talbakov added that the budget for 2008 also stipulates control over all arrivals.  “Besides tax and non-tax receipts, grants to support the national budget, investment projects being implemented by international financial institutions, as well as national loans for implementing projects in the energy and transport sectors will also be taken into account,” Tajik Mp said, adding that the budget also envisage strict control over use of funds of investment projects and national projects.  

He also noted that no amendments will be made to the RT Law “On the National Budget for 2008” during the next year.  

As it had been reported earlier, the 4.5 billion-somonis ($1.3 billion) budget for 2008 is some 36 percent larger than the 2007 state budget and includes about $500 million in planned social spending, with increases of 44 and 41 percent on healthcare and education, respectively.  The budget also earmarks 732 million somonis ($212 million) for the energy sector, an increase of roughly 16.5 percent, to be largely spent on expanding hydroelectricity production.