Tajikistan: Economy Sagging and Little Hope in Sight
Tajikistan is the latest country in Central Asia to get a bad news update on its economy, although probably to nobody’s great surprise.
The World Bank said on November 17, during its latest bi-annual update on the state of the country’s economy, that gross domestic product growth is set to slow to 4.2 percent this year.
That dip in performance is down to the widely reported decrease in remittances from Russia, as well as reduced demand and prices for Tajikistan’s main export commodities — aluminum and cotton.
“Remittances are the second largest source of household income in Tajikistan, so this sharp decline in remittances is limiting household consumption and is putting the sustainability of recent gains in poverty reduction at risk,” World Bank country manager Patricia Veevers-Carter said in a statement.
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