ADB raises GDP growth forecast for Tajikistan

The Asian Development Bank (ADB) has raised the GDP growth forecast for Tajikistan over the September outlook, from 6.5 percent to 7.3 percent for 2024, Trend reports.

In the recent publication, the forecast for 2025 has also been revised upward, from 6.5 percent to 7 percent. This increase is attributed to the country's strong growth indicators, the rise in net current transfers, and the expansion of new production capacities, especially in agribusiness and manufacturing.

According to the ADB, with strong remittances and gold exports, Tajikistan’s economy grew 8.4 percent in the first 3 quarters of 2024.

Regarding inflation in the country, analysts noted that the normalization of global food markets and inflation-targeting measures will help keep inflation at 4.5 percent this year. The forecast remains unchanged at 6.5 percent for next year due to the anticipated increase in prices for non-fuel goods, which Tajikistan largely imports, as well as the delayed effects of wage increases and electricity tariff hikes.

The ADB has revised up the growth projection for the Caucasus and Central Asia to 4.9 percent from 4.7 percent for 2024 and to 5.3 percent from 5.2 percent for 2025.

Earlier, it was reported that the ADB  launched a groundbreaking regional program, Glaciers to Farms, aimed at tackling the devastating impacts of accelerated glacial melt in Central Asia, the South Caucasus, and Pakistan.