Budget of 2019 dominated by Rogun Completion

TajikistanToday.org (English)

The Ministry of Finance is forecasting an increase of 18% in expenditures on fuel and energy for 2019. However almost 40% less funds will be allocated to this sector next year.

End of last week, the draft budget for 2019 was passed in the lower house of parliament, Finance Minister Faiziddin Kahhorzoda noted that spendings in the fuel and energy sector is expected to be 4.1 billion somoni in 2019, which is 17.8% more than in 2018.

More than half of this amount (2.1 billion somoni) will be directed to the completion of the Rogun hydropower plant.

In the budget of 2018, it was originally planned to send 3.5 billion somoni to the fuel and energy complex.

However, these funds were not approved due to the lack of money for the completion of the Rogun hydropower plant.

Faiziddin Kahhorzod noted that the additional financing of the fuel and energy complex would come from the sale of stones, metals and minerals as well as funds held by the ministry of finance by placing Eurobonds in international financial markets.

The minister stated that part of the budget funds allocated for the fuel and energy complex will also be used to complete the construction of Rogun also in 2019.

Depending on oil and gas price for next year the consumers in Tajikistan will probably see some movements in gas and energy prices. However with the completion of Rogun energy stability could attract much more investments in the industrial sector, which would create more jobs and an increase in salaries.

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