DUSHANBE, July 25, 2016, Asia-Plus – The Word Bank has revised Tajikistan’s growth forecasts downward.

The June 2016 issue of the World Bank Group’s Global Economic Prospects notes that growth projections for Tajikistan have been revised downward relative to the January 2016 Global Economic Prospects, amid the reduction in remittance flows, lower demand for imports and recession in Russia’s economy.

The June 2016 issue of the World Bank Group’s Global Economic Prospects predicts Tajikistan’s growth rate to stand at 4.0 percent this year, 0.8 percent less than it was predicted by to the January 2016 issue of the World Bank’s Global Economic Prospects .   

In 2017, Tajikistan’s growth rate is expected to stand at 4.8 percent, 0.7 percent less than it was predicted by the January 2016 issue of the World Bank’s Global Economic Prospects.

The World Bank has also revised down Tajikistan’s growth forecasts for 2018 from 5.5 percent to 5.3 percent.  

The June 2016 issue of the World Bank Group’s Global Economic Prospects notes that a deeper than expected recession in Russia could generate intensified spillovers for neighboring countries (Armenia, Belarus, Georgia, Kyrgyz Republic, Moldova, Tajikistan, Uzbekistan) through reduced remittance flows and lower demand for imports.