Tajikistan Economic Report, 2012 : Sustaining Post-Crisis Recovery, Investment and Growth

Tajikistan Economic Report, 2012 : Sustaining Post-Crisis Recovery, Investment and Growth

Tajikistan is one of the world's most remittance-dependent economies, receiving net remittance inflows equivalent to approximately 40 percent of Gross Domestic Product (GDP). Falling remittance inflows was one of the main transmission channels...

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Bibliographic Details
Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	World Bank 2017
Subjects:	ACCESS TO MARKETS BANKING SECTOR BANKS BILL CASH PAYMENT COMMODITY COMMODITY PRICES COMPETITIVENESS CONSUMER PRICE INDEX CONSUMER PROTECTION CREDIT FACILITY CREDIT FLOWS CREDITS CURRENCY CURRENT ACCOUNT CURRENT ACCOUNT BALANCE DEBT DEBT MANAGEMENT DEBT OVERHANG DEBT POLICY DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SUSTAINABILITY DECLINE IN INFLATION DEPOSIT DEPOSIT ACCOUNTS DEPOSIT SERVICES DEPRECIATION DIVIDEND DOMESTIC DEBT DOMESTIC DEMAND DOWNSIDE SCENARIO DOWNWARD PRESSURE ECONOMIC ACTIVITY ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC POLICIES EDUCATION SYSTEMS EMPLOYER EMPLOYER CONTRIBUTIONS EMPLOYMENT OPPORTUNITIES ENROLLMENT EXCHANGE RATE EXCHANGE RATE FLEXIBILITY EXCHANGE RATE POLICIES EXCHANGE RATE POLICY EXPENDITURES EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL FACTORS EXTREME POVERTY FARMERS FINANCIAL CRISIS FINANCIAL INTERMEDIATION FINANCIAL PRODUCTS FINANCIAL SECTOR FISCAL BALANCE FISCAL DEFICIT FISCAL POLICIES FLEXIBLE EXCHANGE RATE FLEXIBLE EXCHANGE RATE REGIME FOOD PRICES FOREIGN CURRENCY FOREIGN CURRENCY LOANS FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FUEL FUEL PRICE FUEL PRICE INCREASES FUELS FUTURE GROWTH GLOBAL ECONOMY GLOBAL SLOWDOWN GOVERNMENT EXPENDITURE GOVERNMENT REVENUE GOVERNMENT SPENDING GRACE PERIOD HEAVY RELIANCE HIGHWAY HOUSEHOLDS IMPORT IMPORT COSTS IMPORTS INCOME INCOME GROUPS INCOME TAX INFLATION INTEREST PAYMENTS INTEREST RATE INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL PRICES INTERNATIONAL RESERVES INVESTMENT RATES LIQUIDITY LOCAL CURRENCY LOCAL CURRENCY LOANS MACROECONOMIC INDICATORS MATURITY MIGRANT LABOR MONETARY AUTHORITIES MONETARY FUND MONEY SUPPLY NATIONAL BANK NOMINAL ANCHOR NON-PERFORMING LOANS OIL PRICES OUTPUT POLITICAL CLIMATE POST-CRISIS PERIOD POVERTY REDUCTION PRICE INCREASES PRICE OF FUEL PRIVATE INVESTMENT PRIVATE INVESTMENTS PROFITABILITY PRUDENTIAL STANDARDS PUBLIC DEBT PUBLIC DEBT MANAGEMENT PUBLIC INVESTMENT PUBLIC SPENDING PUBLIC TRANSPORTATION RAIL RAIL TRAFFIC RAIL TRANSIT RECEIPTS RECESSION REGIONAL MARKETS REGULATORY FORBEARANCE REMITTANCE REMITTANCES RESERVE RESERVE MONEY RETURN RISK OF DEBT ROAD SAVINGS SHORT-TERM LIQUIDITY SHORTFALLS SLOWDOWN SOCIAL PROTECTION SURPLUS SUSTAINABILITY ANALYSIS TAX TAX CODE TAX REVENUE TAX SYSTEM TOTAL INVESTMENT TRADE DEFICIT TRADING TRADING PARTNERS TRANSIT TRANSPORT TRANSPORT CHARGES TRANSPORTATION TRANSPORTATION COSTS WITHDRAWAL
Online Access:	http://documents.worldbank.org/curated/en/806061468133792061/Tajikistan-Sustaining-post-crisis-recovery-investment-and-growth http://hdl.handle.net/10986/26770

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Summary:	Tajikistan is one of the world's most remittance-dependent economies, receiving net remittance inflows equivalent to approximately 40 percent of Gross Domestic Product (GDP). Falling remittance inflows was one of the main transmission channels through which the 2008-09 global economic crisis adversely impacted the economy. Conversely, the pickup in growth since 2009 can also be traced to the rebound in remittance inflows (primarily from Russia, where more than 90 percent of Tajik migrants work), which reached 42 percent of GDP in 2010 and an estimated 40 percent of GDP in 2011. As the World Bank's 2011 country economic memorandum has argued, future growth in Tajikistan will depend crucially on increasing efficiency and raising private investment rates. Remittances are likely to grow more slowly than the earlier trend over the last 5-6 years, but could nonetheless be a major contributor to future growth if more go into private investment than in the past.