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EDB shares data on Tajikistan’s economic development

Tajikistan Materials 8 February 2023 18:44 (UTC +04:00)
EDB shares data on Tajikistan’s economic development
Alyona Pavlenko
Alyona Pavlenko
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BAKU, Azerbaijan, February 8. The growth of Tajikistan’s gross domestic product (GDP) amounted to 8 percent in 2022, Trend reports, citing the Eurasian Development Bank (EDB).

According to the EDB, the growth in Tajik GDP was incensed by a strong manufacturing and agriculture industry’s development, due to rapid crop growth, as well as trade and construction sector development.

At the same time, the bank forecasts a growth slowdown in Tajikistan’s GDP to 6.5 percent in 2023, due to the deceleration of the domestic demand dynamics.

According to the information, Tajik state budget surplus reached 1.7 billion somoni ($164 million) from January to November 2022, increasing from 1 billion somoni ($96 million) from January through October. The budget has been executed by 77.9 percent during 11 months of 2022, compared to 84.1 percent in the same period in 2021.

In addition, inflation in December 2022 decreased to 4.2 percent year-on-year. Meanwhile, inflation in November amounted to 4.5 percent. The slowdown of consumer price was caused by the cut in the prices of products imported by Tajikistan, such as food and energy.

The EDB forecast the increasing of inflationary pressures in 2023, caused by the weakening of the somoni and the increase in the price of services provided to the population. The growth in prices of services amounted to 1.9 percent year-on-year in 2022.

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