Tajikistan's Economy Sustains Strong Growth, EBRD Says
Date
11/28/2023 9:15:26 PM
(MENAFN- Trend News Agency) DUSHANBE, Tajikistan, November 29. The European
Bank for Reconstruction and Development (EBRD) notes that
Tajikistan's Economy sustained strong growth in the initial half of
2023, Trend reports.
The bank's economists highlight that the country's GDP expanded
by 8.3 percent year-on-year during this period, attributed to
factors such as China's reopening after COVID, ongoing demand for
Tajik workers in Russia, and active public spending.
The EBRD also indicated a 27 increase in fixed capital
investment in the first six months of the year, primarily directed
towards the transport and energy sectors.
Furthermore, industrial production, encompassing export-oriented
mining activities, rose by 10.3 percent year-on-year. Specifically,
manufacturing saw a growth of 14.2 percent, agriculture increased
by 7.9 percent, and cargo transportation surged by 12.3
percent.
According to the bank, the increase in hospitality sector by
14.4 percent and retail trade turnover by 10.4 percent shows that
people continue to spend more due to consistent money sent home and
increasing wages, which rose by 14.2 percent compared to May
2023.
Simultaneously, EBRD expects Tajikistan's GDP to grow by 7.5
percent in 2023. The country's GDP was 8 percent in 2022, 9.4
percent in 2021, and 4.4 percent in 2020.
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