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Sunday, August 20, 2017

Diversification key for Tajikistan

The most recent version of the Asian Development Bank's (ADB) Asian Development Outlook 2015 states that GDP growth for Tajikistan is expected to slow to four percent in 2015, they said Tuesday.


A large factor of this prediction is due to the country's vulnerability to external forces; the bank also cites declining exports of cotton and aluminum as part of the issue. In 2014 growth slowed to 6.7 percent from 7.4 percent in 2013.


ADB suggests that diversification of the nation's economy would alleviate the external risks. 


“The current economic slowdown once again highlights the urgency for Tajikistan to unlock the potential of its valuable resources and boost exports, and thereby mitigate its vulnerability to external shocks,” C.C. Yu, ADB’s country director for Tajikistan, said. “Realizing this potential requires continued structural reforms to attract greater private investment and create more higher-paying jobs at home.” 

 
Within the report, the bank states that inflation will likely accelerate to as high as 10 percent in the next year.

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Asian Development Bank

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