DUSHANBE, July 24, 2009, Asia-Plus  -- Tajikistan’s external debt has grown by 101.84 million US dollars in January-June 2009, Finance Minister Safarali Najmiddinov announced at a press conference in Dushanbe on July 24.

According to him, the debt increased from 1.3714 billion US dollars as of January 1, 2009 to 1.47328 billion US dollars as of June 30, 2009.

The minister noted that the debt has been estimated at 25.4 percent of the country’s gross domestic product (GDP); a 1.3 percent decrease compared to June 30, 2008.  As of June 30, 2009, the foreign debt was estimated at 26.7 percent of GDP.

The minister attributed the debt increase to newly attracted loans.  “The foreign has accrued from long-term preferential loans disbursed to the country for implementation of investment projects aimed at enhancement of energy and transport sectors as well as construction of a new terminal at the Dushanbe airport form,” Najmiddinov said, noting that the structure of the country’s foreign debt is favorable because the loans are low-interest and repayable over periods ranging from 25 to 40 years.

The servicing and repayment of the foreign debt over the report period accounted for 21 million US dollars.

Najmiddinov noted that China was now the main creditor of Tajikistan.  “Tajikistan now owes 549 million US dollars to China, which is 38 percent of the overall volume of the country’s foreign debt,” the minister said.