April 15, 2009
1. This statement contains information on recent developments in the Islamic Republic of Afghanistan that has become available since the staff report was circulated to Executive Directors on April 7, 2009. The information does not alter the thrust of the staff appraisal.
2. Preliminary fiscal data for the fiscal year ending on March 20, 2009 show that domestic revenues totaled Af 41.6 billion (7 percent of GDP) compared to the projected figure of Af 40 billion (6.7 percent of GDP). The turnaround in collection reflects the recent administrative measures described in the Supplementary Memorandum of Economic and Financial Policies.
3. Headline inflation (year-on-year) fell to 3 percent in March 2009, down from 9 percent in February. Food inflation fell to 1 percent and nonfood inflation (a measure of core inflation) remained at 7 percent.
4. The structural benchmark on implementation of the ASYCUDA Transit and Declaration Processing Module in Nangarhar, Herat, and Kabul Airport, scheduled for April 30, 2009, was implemented at end-March.