The World Bank (WB) predicts that Tajikistan’s GDP growth will slow down from 8 percent in 2022 to 6.5 percent in 2023, Trend reports.
However, this forecast represents an upward revision from the previous projection of GDP at 5 percent for the end of 2023.
The slower economic growth this year is due to several factors mainly reflected in a decrease in remittance inflows and household consumption, which is a result of a high starting point in 2022.
Foreign Direct Investment (FDI) inflows are also on track to normal levels after strong growth in 2022. Additionally, the weak global demand for metals and minerals, which are major export commodities for Tajikistan, is contributing to the deceleration in growth.
At the same time, the World Bank predicts GDP growth in Tajikistan to reach 5 percent in 2024, and 4.5 percent in 2025.
The bank’s analysts anticipate that the services sector, the mining industry, consumer product manufacturing, and the construction development projects will continue to be the driving forces behind growth in the coming years, befitting to previous years.
Source: Trend News Agency