Baku, Azerbaijan, Nov. 17
By Elena Kosolapova - Trend:
The decline in remittances from Russia, weak global demand and low prices for the country's key export commodities such as aluminum and cotton will cause Tajikistan's economic growth to slow to an estimated 4.2 percent in 2015, the World Bank said today in its new bi-annual Tajikistan Economic Update launched in Dushanbe.
Tajikistan's economic growth was 6.7 percent in 2014.
The fall in remittances and slowdown of economic growth is having a strong impact on income, which is expected to contract by 10 percent in 2015.
The country medium-term growth prospects will depend on how well Tajikistan will adjust to the new external environment and address major macroeconomic risks related to its external-account volatility, declining foreign-exchange reserves, contingent liabilities generated by state-owned enterprises and ongoing vulnerabilities in the banking sector, the report said.
The WB's active portfolio in Tajikistan includes 25 projects (including regional projects) with a net commitment of $383 million.
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