Chairman of the National Bank of Tajikistan Abdujabbor Shirinov released performance figures for the country's banking sector during a recent news conference.
Shirinov said the country's GDP grew at a rate of approximately 6.7 percent in 2014. Despite geopolitical tensions and neighboring economies struggling, Tajikistan's economy grew through policy changes regarding monetary and banking practices.
Monetary policy in 2014 was intended to preserve the local currency's stability on the foreign exchange market. Despite this, there was depreciation of the somoni against the U.S. dollar. The bank reported an inflation rate of 7.4 percent, largely caused by food prices that increased at a 9.7 percent rate.
Shirinov also discussed the bank's growth. At the end of 2014 the bank reported 138 operational crediting institutions, up from 115 at the end of 2013.