EDB Expects GDP Growth in Tajikistan to Accelerate

9


The EDB (Eurasian Development Bank) expects the GDP growth in Tajikistan in the second quarter of 2023 to exceed the 8.2 percent registered in the first quarter of 2023, Trend reports.

The analytics of the EDB say the growth will be caused by the fact that in the same period of 2022, the country’s economic activity was negatively affected by regional instability.

In the first quarter of 2023, Tajikistan experienced a year-on-year increase of 8.8 percent in industrial production, with manufacturing and energy sectors playing a significant role in driving this positive growth.

Within the manufacturing sector, growth reached 14.4 percent year-on-year, fueled by expanded output in industries such as food production (32 percent year-on-year growth) and textile manufacturing (16.3 percent year-on-year growth).

Energy sector growth reached 19.7 percent year-on-year in the first quarter, while agriculture grew by 6.2 percent year-on-year.

The EDB expects that GDP growth in Tajikistan will reach 7.9 percent in 2023, reflecting an upward revision from the 6.5 percent projected in November 2022. The rapid economic growth in the current year is attributed to growth in domestic demand.

Additionally, the bank anticipates a GDP growth rate of 5.8 percent in the country for the year 2024.

Source: Trend News Agency