The Tajik economy continues to show signs of slowing growth, with inflation accelerating in February, reports Asiaplustj.info with reference to the April Macroeconomic Review of the Eurasian Development Bank.
The Review notes that in February of this year, the growth of the Tajik economy continued its gradual slowdown, "but remains at an elevated level." According to the EDB forecast, this year Tajikistan's GDP growth will be 6.5%.
“A slowdown compared to 8% in 2022 is expected due to the completion of the post-pandemic economic recovery, as well as a decrease in the volume of remittances incoming to Tajikistan compared to 2022,” the bank’s analysts explain.
Against the backdrop of a decrease in remittances, they expect a decline in imports during the year, "which affects domestic demand in the economy."
Inflation in Tajikistan accelerated to 4.5% in February 2023 from 4.3% in January this year .
“In March, there is likely to be a temporary drop in annual inflation to below the target interval of 6.0% (±2 percentage points) against the backdrop of a high base in 2022, when prices rose rapidly in the country in early spring,” the Review authors predict.
According to the current EDB forecast, inflation in Tajikistan will return to 6.0% by the end of 2023.
According to the World Bank report on the world economy in 2023, Tajikistan is predicted to slow down due to a decrease in remittances from labor migrants, whose number from Tajikistan at times exceeded 3 million people.
CentralasianLIGHT.org
April 10, 2023