BAKU, Azerbaijan, March 13. The growth rate of Tajikistan's economy has slowed down in January 2023, compared to the end of 2022, Trend reports citing the Eurasian Development Bank (the EDB).
Industrial production in Tajikistan has increased by 7.8 percent year-on-year in January 2023. In comparison, in December 2022, the growth was at 30.1 percent year-on-year.
The retail trade turnover increased by 1.1 percent year-on-year in the first month of 2023, while the growth was at 6.8 percent year-on-year in December 2022.
The bank noted that the foreign trade deficit in Tajikistan decreased due to a slowdown in the real growth of consumer demand in January 2023.
Reportedly, Tajikistan decreased the value of imports from $443 million in January 2022 to $385.1 million in January 2023.
The exports from Tajikistan registered a decrease from $134.5 million in January 2022 to $120 million in January 2023. The decrease in metal and textile supplies was compensated by the rise in exports of ore concentrates, cement, and electricity.
The EDB said that, as the inflation in Tajikistan remained near the lower limit of the target range, the regulator decided to reduce the refinancing rate from 13.0 to 11.0 percent per annum.
The state budget of Tajikistan has been executed with a surplus, and the state's external debt has decreased by the end of 2022.
According to the EDB's forecast, the country’s GDP is expected to amount to 6.5 percent in 2023.