World Bank projects economic growth for Tajikistan in 2021

World Bank experts stated that the Covid-19 pandemic had undermined the economic growth prospects.

The World Bank projects economic growth to rebound in Tajikistan in 2021. However, experts noted that the projected recovery would be relatively modest, and the emergence of a new variant of coronavirus made the economic growth prospects vague, the press office of the World Bank reported on January 5.

The World Bank says in its January 2021 Global Economic Prospects that GDP growth in the Republic will be at 3.5% in 2021 and at 5.5% in 2022. Foreign analysts emphasised that Tajikistan’s involvement in China’s Belt and Road Initiative will contribute to the economic recovery.

It was noted that the Covid-19 pandemic had led to a significant increase in the unemployment rate, reflecting the implications of the pandemic and the slowdown in Russia, since the most necessary goods and products are exported from the Russian Federation to Tajikistan. Remittances amounted to 30-50% of GDP of the Republic.

In Central Asia, the World Bank projects growth to recover to 3% in 2021, supported by a modest rise in commodity prices and foreign direct investment.

07 янв 2021, 18:37
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