Growth in industry and agriculture slowed in Tajikistan

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The growth in Tajikistan's industry and agriculture slowed down in August following active growth in the first half of 2023, according to an analytical review by the Eurasian Development Bank (EDB), TASS reports.

"The growth rates in industry and agriculture slowed down to 3.8% YoY and 0.7% YoY in August after recording 10.3% YoY and 7.9% YoY in the first half of 2023," the review states.

However, the bank's analysts note that Tajikistan continues to maintain a high demand for goods. "At the end of the last month of summer, retail sales increased by 15.5% YoY, and investments by 14.8% YoY, following an increase of 10.4% YoY and 27.1% YoY, respectively, in the first half of the year," the review states.

Earlier, the EDB noted that domestic demand for goods became a driver of economic growth in Tajikistan in 2023. According to the bank's calculations for January-May of the current year, GDP growth amounted to 8.3% YoY. The National Bank of Tajikistan predicts a GDP growth rate of 8% for the country in 2023, while the EDB forecasts it to be 7.5%. The Ministry of Industry and New Technologies of Tajikistan has stated that the state aims to double industrial production over the next five years.

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October 9, 2023