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EFSD projects Tajikistan's GDP growth to slow down in coming years

Tajikistan Materials 7 June 2024 13:08 (UTC +04:00)
Umar Abakirov
Umar Abakirov
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DUSHANBE, Tajikistan, June 7. The Eurasian Fund for Stabilization and Development (EFSD) projects that Tajikistan's GDP growth will slow to 7.2 percent in 2024, Trend reports.

Based on its analysis, the fund projects that the country's real GDP growth will reach 7 percent in 2025 and slightly decrease to 6.8 percent in 2026. Based on the data provided, EFSD predicts that the GDP will reach $13.3 billion in 2024, $14.7 billion in 2025, and $16.1 billion in 2026.

The fund notes that the decrease in growth rates from their highest point is primarily caused by a decrease in consumer demand, which is a result of the anticipated decrease in the growth of remittances.

On the other hand, the stable exports of precious metals, the active expansion of investment activities, such as the implementation of the Rogun HPP project and increased investments in other infrastructure projects, along with the favorable conditions in the labor market, will continue to contribute to sustained growth rates.

The EFSD points out that Tajikistan's economic growth has consistently exceeded the 8 percent threshold for the third consecutive year, with a growth rate of 8.3 percent in 2023.

Consumer demand, fueled by rapid growth in consumer lending and real wages, remained the primary driver of growth, mirroring the trends observed in 2022. Investment activity also surged, propelled by the active construction of the Rogun HPP and the execution of projects in other priority sectors.

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