Economic growth of Tajikistan hit 7.2 pct in first half of 2018
By Kamila Aliyeva
The economic growth of Tajikistan in January-June accelerated to 7.2 percent compared to 6 percent in the same period of 2017, chairman of the Tajik National Bank Jamshed Nurmahmadzoda said.
In nominal terms, Tajikistan's GDP in January-June this year amounted to 27.7 billion somoni (over $ 3.02 billion), according to Reuters.
Inflation in the consumer sector slowed to 0.9 percent in the six months of this year from 5.9 percent 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 in 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 percent. In 2017, inflation in Tajikistan accelerated to 6.7 percent year on year from 6.1 percent 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 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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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva
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