Fast growth of Tajikistan's GDP to continue, although at slightly lower pace - EDB

DUSHANBE. Dec 14 (Interfax) - The Eurasian Development Bank (EDB) expects a slight decline in Tajikistan's GDP growth in the coming years.

The EDB published a macroeconomic outlook, summarizing preliminary results of the economic development of member states in 2023 and presenting a forecast of key macroeconomic indicators of regional countries in 2024 and 2025/2026.

According to EDB analysts, Tajikistan's GDP will grow 8.2% in 2023 and 7.3% in 2024. They noted that the fast economic growth of this year was powered by the strong domestic demand.

"Our forecast assumes that Tajikistan's GDP growth rate will remain high, 7.3%, in 2024. A certain slowdown compared to 2023 will be explained by the deterioration of the external economic background - slower growth rates in Russia and in the leading world economies," the bank said.

Meanwhile, according to the bank analysts, Tajikistan's GDP growth will continue to rely on the expanding industrial capacity (primarily in metallurgy, energy, textile and food industries) and the accompanying investment activity, including as part of the implementation of government economic development programs.

"The GDP will grow 6-7% in 2025/2026. This pace is close to the potential one for Tajikistan. It is higher than the region's average owing to structural factors, which support the fast national economic growth: catching-up development and swift population growth," the document said.