The economic growth of Tajikistan in January-June accelerated to 7.2% compared to 6% in the same period of 2017, chairman of the Tajik National Bank Jamshed Nurmahmadzoda said.
In nominal terms Tajikistan’s GDP in January-June amounted to 27.7 billion somoni (over $3.02 billion), according to Reuters.
Inflation in the consumer sector slowed to 0.9% in the six months of this year from 5.9% in January-June 2017, according to the National Bank.
Nurmahmadzoda said that stable inflation rates were achieved as a result of the balance of supply and demand on the country’s consumer market and the implementation of anti-inflationary monetary policy.
“Inflation is in line with the target set by the National Bank of Tajikistan, and the dynamics of its change was maintained within the forecasted macroeconomic indicators,” the chairman added.
The government forecasts inflation at the end of 2018 at the level of 7%. In 2017 inflation in Tajikistan accelerated to 6.7% YoY from 6.1% in 2016.
The government of the country has set goals to be reached by 2020, which are to double GDP, to reduce poverty to 20%, and to expand the middle class.
The country has 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. (AzerNews/Business World Magazine)