(MENAFN- Wadsam) Afghanistan's economic growth will decline by 3% and poverty
will increase by 7% this year due to the spread of the coronavirus, said Economy
Minister Mustafa Mastoor.
Minister Mastoor made
these remarks at a virtual summit entitled 'Supporting the Revival of the
Private sector in Central Asia Post COVID-19'.
'Given the spread of
COVID-19 in the country, our economic growth is expected to plummet by 3% and
poverty to go up from 54.5% to 61.5%,' said Minister Mastoor.
Mastoor added that the
Ministry of Economy in cooperation with other relevant departments has prepared
a package that focuses on supporting small and medium-sized enterprises in
municipality taxes, easy loans, and electricity bills and rents. The package
has been proposed to the Economic High Council and the Cabinet for approval.
Afghanistan's economic
growth had reached 3% in 1398 and a year before it was at 2.7%
Before COVID-19, Afghanistan's economy was forecasted to grow by 0.5% during the 1399 fiscal year.
Photo Credit: BBC
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