A conference on developing the Afghan economy opens in Kabul

A four-day conference on the development of the Afghan economy and the attraction of capital investments with the participation of Afghan entrepreneurs and foreign specialists has opened in Kabul.

The conference is being attended by more than two hundred Afghan entrepreneurs and businessmen living both in Afghanistan and abroad.

Opening the conference, Afghan leader Hamid Karzai underscored that it was very important for the Afghan economy today to attract capitals. He called upon Afghan businessmen and entrepreneurs to more actively invest their capitals into the development of the national economy. This step will signify trust in the security and stability in the country and will be an example for foreign investors to follow, believes Hamid Karzai.

The day before, the Council of Ministers of the interim Afghan administration met for a special session to discuss the draft law on the attraction of internal and foreign investments into the national economy.

The report of Afghan Finance Minister Ahmad Zai, published yesterday, says that the state budget for the current year (the calendar year in Afghanistan starts on March 22nd) amounts to 460.3 million dollars, out of which the internal revenue will equal only 83 million dollars. The revenue part of the budget will still be compensated by the aid from donor-countries and the international community.

Ahmad Zai pointed out that the Afghan government did not intend to resort to loans and to increase the monetary mass. According to him, "a tendency towards increasing the internal revenue has already taken shape."