The Taliban administration approved its first budget since the takeover of Afghanistan last August, the Finance Ministry said on Friday.

The budget of 53.9 billion Afghanis ($524 million) will cover the first quarter of 2022 and is almost entirely dedicated to funding government institutions, the ministry said in a statement.

The ministry wants to distribute the approved budget to all state institutions as soon as possible to prevent disruptions in the country, it added.

It said some $478 million in the budget are allocated to government institutions and $46 million are earmarked for development expenditures.

The approved budget was the first to exclude foreign aid in Afghanistan after 20 years of US occupation.