Economic growth in Tajikistan exceeded 8%

Experts from the World Bank estimate that Tajikistan’s economy grew by 8.3 percent in 2023, and by 8.2 percent over the first four months of the current year.

According to media reports, the World Bank’s report was published on July 16. The authors of the report note that factors contributing to economic development include “gold sales, government spending on large construction projects and infrastructure, as well as the ongoing influx of money from labor migrants.”

Additionally, the decline in food and fuel prices worldwide has also influenced this, as Tajikistan imports a significant amount of fuel and food from abroad, and their price reduction affects domestic prices in Tajikistan.

However, economic growth may slow down in the near future due to the slow pace of reforms being implemented by the authorities in the country and the challenging economic situation in the region. A significant factor in the slowdown of economic growth will be the tightening of migration policy in Russia and the subsequent decrease in the volume of remittances from Russia to Tajikistan, experts believe.

According to unofficial data, there are about 2.5 million Tajik migrants living in Russia. In the event of stricter residency rules, mass deportations from Russia, or rising unemployment among migrants in Russia, the pace of national economic development will decline.