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Tajikistan's GDP growth in 2017 announced

17 January 2018 14:07 (UTC+04:00)
Tajikistan's GDP growth in 2017 announced

By Kamila Aliyeva

GDP growth in Tajikistan amounted to 7.1 percent or $6.9 million in 2017, according to the Statistics Agency under the President of Tajikistan.

Agriculture, hunting, forestry, fishing and fish farming still prevail in the country making 21.1 percent of the total GDP.

Compared to 2016, the share of agriculture in GDP structure increased by 0.4 percent.

The share of industry, including energy, accounts for 17 percent, thus showing an increase of 1.9 percent compared to 2016.

Trade, repair of cars, household goods and personal items, hotels and restaurants account for 14 percent of GDP, while transport, communications and warehousing - for 11.1 percent and taxes - 10.8 percent.

The total volume of the republic's GDP in the draft state budget for the next year is projected at more than 66.8 billion somoni (more than $7.5 billion according to the current official rate).

The real growth of the economy is envisaged at the level of 7 percent. The inflation is also envisaged at the level of 7 percent.

The government of the country has set goals to be reached by 2020 which are to double GDP, to reduce poverty to 20 percent, and to expand the middle class.

The Central Asian nation also adopted a new National Development Strategy covering 2016-2030, which envisages Tajikistan transforming from a mainly agrarian based economy to an industrialized economy.

To achieve these goals, Tajikistan needs to implement a reform designed to reduce the role of the state and raise that of the private sector in the economy, thus increasing private investment and generating more jobs, to modernize and improve the efficiency and social inclusiveness of basic public services, and to enhance the country’s connectivity to regional and global markets.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

Follow us on Twitter @AzerNewsAz

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