News Column

Afghanistan : FM - AFGHANISTAN suffers financial loss of over $5M due to political impasse

August 25, 2014

The Finance Ministry of Afghanistan has announced that a political impasse due to election deadlock has caused the country to suffer a financial loss of over $5 billion.

The ministry said the deadlock has also led to capital flight from Afghanistan which amounts to nearly $6 billion.

The ministry has raised concerns that the negative impact of financial loss will be there for a longer period of time.

Economic crisis is also expected if the election deadlock was not resolved and the vote results was not issued on time.

The deadlock has led to a drop in state revenue and Afghanistan might move towards an unstable condition if the deadlock persists.

The government will have to cut jobs as well as salaries of the state employees in case of an economic crisis in the country.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters