BAKU, Azerbaijan, June 8. The EDB (Eurasian Development Bank) expects the GDP growth in Tajikistan to reach 7.9 percent in 2023, which is an upward revision from the 6.5 percent predicted in November 2022, Trend reports.
The bank's analysts anticipate that the economic growth in Tajikistan will be around 7 percent year-on-year in the last quarter of 2023. This rate is slightly lower than the current rate (8.2 percent in 1Q2023) due to a decrease in money transfers and a statistical effect from strong activity in the third and fourth quarters of 2022.
Furthermore, the EDB predicts a decline in GDP growth to 5.8 percent in Tajikistan in 2024, which remains unchanged from the November report, followed by an increase to 6.7 percent in 2025. This economic growth is being supported by the expanding production capacity in various industrial sectors, including metallurgy, energy, textiles, and the food industry.
The bank highlights that the rate of GDP growth in Tajikistan surpasses the average of other member countries in the EDB due to the rapid population growth and the development of the economy.
As a comparison, the expected GDP growth rates in 2023 for the fellow member-countries of EDB are 1 percent for Russia, 2.2 percent for Belarus, 4.2 percent for Kyrgyzstan, and 4.3 percent for Kazakhstan.
According to the EDB estimations, Tajikistan’s GDP growth stood at 8 percent in 2022.