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Economic growth forecast to grow to 7.3pct in Tajikistan

07 August 2018 [17:44] - TODAY.AZ

By Azernews

By Kamila Aliyeva

Economic growth in Tajikistan is projected at the level of 7.3 percent in 2018,, according to the Tajik government, Central Asian media outlets reported on August 6.

“The government of Tajikistan approved the forecast of the country's economic growth for the next year, prepared by the Ministry of Economic Development and Trade. In particular, the economic growth is forecasted at the level of 7.3 percent for the current year,” Minister of Economic Development and Trade Negmatullo Hikmatullozoda said at a meeting with journalists.

As for the forecast for 2019, according to the official, this figure will be 7-7.6 percent.

“We have every reason to say that we will be able to provide this level of economic growth. The volume of attracted investments, the growth of financing, industry, agriculture, the increase in the volume of services gives us grounds to say that the forecasted growth will be ensured,” the minister added.

The economic growth of Tajikistan in January-June accelerated to 7.2 percent compared to 6 percent in the same period of 2017. The government forecasts inflation at the end of 2018 at the level of 7 percent. In 2017, inflation in Tajikistan accelerated to 6.7 percent year on year from 6.1 percent in 2016.

The country has set goals to be reached by 2020 which are to double GDP, to reduce poverty to 20 percent, and to expand the middle class.

The Central Asian nation also adopted a new National Development Strategy covering 2016-2030, which envisages Tajikistan transforming from a mainly agrarian based economy to an industrialized economy.

To achieve these goals, Tajikistan needs to implement a reform designed to reduce the role of the state and raise that of the private sector in the economy, thus increasing private investment and generating more jobs, to modernize and improve the efficiency and social inclusiveness of basic public services, and to enhance the country’s connectivity to regional and global markets.


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