Business
Ministry of Finance says draft budget for next fiscal years has been drawn up
The Ministry of Finance (MoF) said the draft budget for the next fiscal year has been prepared and will be submitted to the Council of Ministers for approval within the next week.
Ahmad Wali Haqmal, a spokesman for the ministry, said the entire budget is dependent on domestic revenue income and not on foreign aid.
Haqmal said he expected the Council of Ministers to approve the draft budget by the end of the current month and submit it to the relevant agencies for implementation.
Haqmal added: “The draft budget is ready in the ministry and its work is almost done.”
“This is the first budget of the Afghan government in the last 20 years, which is not dependent on foreign aid and we have built it all on the basis of our domestic revenue. The Ministry of Finance is done with its work and after that it will go to the Council of Ministers for approval and after approval we will proceed according to our budget in the next financial year,” said Haqmal.
Haqmal said that there is no problem in covering the operating budget which is funded by the generation of domestic revenue, but there are some problems with the development budget. He said limited, but important, development projects have been included in this budget.
Haqmal said that if domestic revenue rises in the first half of the year, the budget will be adjusted and more development projects will be included.
He added: “We have no problem with the operating budget and the operating budget is made up from our domestic revenue, but we have also considered development projects for next year, which will be fewer than last year …As our revenue increases, other development projects will also be included in it. ”
But economists say the budget is not just about meeting the costs of ministries, but also about implementing development projects across the country and providing services to the people.
In previous years, Afghanistan’s budget for each fiscal year was estimated at 4.5 billion afghanis, up to 40 percent of which was earmarked for development projects, at that time, the entire budget would have been based on foreign aid and the deficit would have been higher than the discretionary budget.
Business
Afghan deputy commerce minister travels to India for trade fair in Delhi
Afghanistan’s Deputy Minister of Industry and Commerce, Ahmadullah Zahid, has travelled to India to attend the India International Trade Fair (IITF) 2026 in New Delhi.
The ministry said Zahid is scheduled to meet senior Indian government officials, trade representatives and investors during the visit.
Discussions are expected to focus on expanding bilateral trade and economic relations, increasing trade between the two countries, exploring new markets for Afghan products and identifying opportunities for joint investment.
The ministry said the visit aims to strengthen trade cooperation, promote Afghanistan’s production and export potential, and create new opportunities for economic engagement between Kabul and New Delhi.
The 45th India International Trade Fair (IITF) 2026 takes place from November 13 to November 27 in New Delhi.
Business
Afghanistan hosts dialogue on Islamic microfinance to expand access to Sharia-compliant financial services
Participants also explored practical solutions and future steps to strengthen the sector, emphasizing the importance of cooperation, knowledge-sharing and better coordination among relevant institutions.
A dialogue on Islamic microfinance was held in Kabul on Wednesday, bringing together representatives of financial institutions, government authorities, international partners and Afghanistan’s microfinance sector to discuss ways of expanding inclusive financial services in the country.
The event was organized by The Liaison Office in coordination with the Afghanistan Microfinance Association (AMA), Da Afghanistan Bank (DAB) and the Indonesian Embassy in Kabul.
Participants discussed opportunities and challenges facing the development of Islamic microfinance services, with a focus on expanding access to financial products that comply with Islamic Sharia principles.
Representatives of AMA, Da Afghanistan Bank and the Indonesian Ambassador to Afghanistan delivered keynote remarks, highlighting the current situation of the microfinance sector, international experiences and opportunities for developing diverse Islamic financial products.
Two panel discussions focused on major challenges facing microfinance institutions, including structural barriers to growth, limited access to capital, funding and liquidity constraints, difficulties in securing guarantees, and the long-term sustainability of Islamic microfinance services.
Participants also explored practical solutions and future steps to strengthen the sector, emphasizing the importance of cooperation, knowledge-sharing and better coordination among relevant institutions.
The dialogue concluded with calls for stronger collaboration among financial institutions and development partners to improve access to inclusive, sustainable and Sharia-compliant financial services across Afghanistan.
Business
Iraqi intelligence report alleges oil smuggling network supplying Afghanistan and Turkey through Iran
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
An Iraqi intelligence report obtained by Sky News Arabia has revealed alleged large-scale crude oil smuggling operations from northern Iraq into Iran, where the oil is reportedly refined and later sold in regional markets, including Afghanistan and Turkey.
According to the report, shipments of crude oil are transported through land routes and unofficial trade channels into Iranian territory, where they undergo refining and processing before being re-exported to foreign markets.
The intelligence findings suggest that the alleged network is designed to bypass international sanctions and facilitate the movement of petroleum products outside official trade and financial monitoring systems.
The report further indicates that smuggling networks rely on informal transportation routes and cross-border commercial channels to maintain the collection, processing and distribution of oil products while avoiding regulatory oversight.
The revelations have raised concerns over cross-border smuggling, the loss of national resources and the potential impact of illicit oil trade on regional economies.
Security and political observers say the reported activities could put additional pressure on Iraqi authorities to strengthen border controls, monitor oil transportation routes and improve coordination with regional and international partners.
However, the allegations outlined in the intelligence report have not been independently verified, and further details about the networks involved, the quantities of oil transported and the scale of supplies reaching Afghanistan and Turkey remain unclear.
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
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