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Tajikistan : Heightened Vulnerabilities Despite Sustained Growth - Country Economic Update 2017 (English)

This edition of the Tajikistan Country Economic Update (CEU) is part of a semi-annual series designed to monitor socio-economic developments in Tajikistan. In the first half of 2017, total investment was down by over seventeen percent year on year. However, investment picked up markedly in the third quarter, resulting in a year-on-year increase of twenty two percent compared to the first nine months of 2016. This report presents an analysis of political, economic and social developments, as well as the progress of and challenges with the implementation of structural reforms in 2017. It also includes a special section highlighting the key fiscal management challenges in Tajikistan.


  • Author

    Gyulumyan,Gohar, Ziyaev,Bakhrom

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  • Document Type

    Working Paper

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  • Region

    Europe and Central Asia,

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  • Doc Name

    Tajikistan : Heightened Vulnerabilities Despite Sustained Growth - Country Economic Update 2017

  • Keywords

    Financial Sector;consumer price inflation;average monthly wage;maternal and child health;Public and Publicly Guaranteed;millennium development goal;demands for public spending;infant and child mortality;Rayons of Republican Subordination;Life in Transition Survey;real effective exchange rate;fiscal deficit;current account balance;international financial institution;official poverty rate;multidimensional poverty index;power transmission line;service and infrastructure;fiscal consolidation effort;foreign direct investment;business environment;international reserve;household survey result;complete secondary education;value added tax;domestic banking sector;access to infrastructure;official unemployment rate;perception of poverty;analysis of poverty;labor productivity growth;national poverty rate;domestic policy framework;high unemployment rate;weights and measure;total labor force;dimensions of poverty;income from employment;islamic development bank;movement of good;domestic revenue mobilization;Energy Sector Reform;limited credit risk;vat on import;total public debt;taxes on goods;Access to Electricity;average tariff increase;debt service costs;domestic tax revenue;total external debt;targeted social assistance;current account deficit;strategic policy planning;real exchange rate;fiscal policy framework;source of employment;corporate profit tax;natural resource use;basis for tariff;trade facilitation agenda;economic growth rate;accumulation of arrears;open market operation;rate of growth;financial sector development;exchange rate expectation;public sector investment;foreign private sector;decline in investment;foreign exchange purchase;financial sector crisis;lending interest rate;Capital Adequacy Ratio;trade in services;banking sector asset;cost of debt;foreign exchange risk;errors and omission;remittance inflow;bank bailout;monetary measure;net export;external environment;rural area;fiscal balance;regional economy;fiscal space;dollar term;Exchange Rates;tax audit;middle class;weight indicator;strategic objective;electricity production;construction sector;minority investor;pay taxes;wage income;inflationary pressure;money supply;Job Creation;high debt;private investment;consumer demand;piped water;Fiscal Reform;monetary poverty;baseline scenario;food expenditure;monetary policy;total debt;fiscal pressure;administrative measure;socio-economic development;fiscal account;large bank;wage increase;private consumption;external balance;employment share;domestic debt;political element;reform effort;commercial bank;customs revenue;cross-border trade;trade statistic;investment climate;sectoral composition;legislative amendment;money transfer;institutional change;bilateral debt;national economy;preferential terms;government building;domestic sources;bank resolution;Bank Credit;administrative burden;fundamental changes;government interference;operational decisions;public order;resource mobilization;business inspections;currency deposit;inspection agency;government plan;risk assessment;domestic development;medium-term development;fiscal system;public resource;employment contract;migrant worker;economic sector;immigration regulation;Labor migration;tax rate;budget practice;tax policy;macroeconomic forecast;budget execution;macroeconomic projection;public policy;fiscal framework;Economic Policy;stated objective;medium-term plan;bank recapitalization;Fiscal policies;sovereign rating;higher collection;energy company;efficiency improvement;financial distress;distressed bank;mitigation mechanism;financial soundness;liquidity management;financing constraint;wholesale finance;heavy reliance;funding source;Single Window;construction permit;business indicator;Business Regulation;negative spillover;government deposit;wholesale funding;foreign bank;inventory turnover;business improvement;foreign currency;short-term debt;tariff level;operational cash;social environment;high employment;Job Vacancies;capital injection;unemployment estimate;gold production



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Gyulumyan,Gohar Ziyaev,Bakhrom

Tajikistan : Heightened Vulnerabilities Despite Sustained Growth - Country Economic Update 2017 (English). Tajikistan Economic Update Washington, D.C. : World Bank Group.