In Tajikistan, remittances fall to 40% will slow down economy to 3.2% - WB

Almaty. May 26. Silkroadnews - In Tajikistan, the fall of remittances from migrant workers from abroad to 40% will have a negative impact on the services and will slow down country's economic growth to 3.2%, reports the Tajik news agency (TajikTA) on Tuesday.
Economic growth is also slowing down in some countries - major trade partners of Tajikistan (Turkey, China and Kazakhstan). Lack of demand will restrain prices for cotton and aluminum - the main export commodities - at a low level. Restoring growth is predicted in the medium term, given the responsible macroeconomic policies and structural reforms reasonable rates.
Economic growth should gradually rise in 2017. The projected decline in GDP growth will slow down the pace of poverty reduction. Significant risks to the macroeconomic growth prospects are linked mainly with external balance, a low level of external reserves, state-owned enterprises and the banking sector.
As previously reported, the volume of remittances to Tajikistan in January - April of the current year compared to the same period last year decreased by 34.1% to 615.6 million mainly due to the financial and economic crisis in countries which are the main economic partners of Tajikistan, one of which is Russia.