Afghanistan Development Update, April 2016

The withdrawal of international security forces since 2014 and continuing political uncertainties have resulted in a significant deceleration to economic growth, with fiscal pressures increasing as security threats mount. However, to a significant...

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Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	AUCTION MONETARY POLICY DEFICIT WITHDRAWAL DEPOSIT REGULATORY FRAMEWORK ACCOUNTING DEPOSITS BROAD MONEY FINANCIAL MANAGEMENT INFORMATION SYSTEM INTEREST INTERNATIONAL SECURITY EXCHANGE GOVERNMENT REVENUES ECONOMIC DEVELOPMENTS BALANCE OF PAYMENTS LIQUIDITY DEVELOPING COUNTRIES INFRASTRUCTURE DEVELOPMENT POLITICAL ECONOMY REVENUES PORTFOLIO LOAN TAX CASH TRANSFER INCOME TAX BUDGETING RESERVE INFLATION INTERNATIONAL BANK PENSION BUDGET BANK LENDING CENTRAL BANK MATURITY MACROECONOMIC STABILITY HUMAN RESOURCE LABOR MARKET TRADE BALANCE AGRICULTURAL COMMODITIES CURRENCY HOUSING FINANCE LEGISLATIVE FRAMEWORK GOVERNMENT POLICY TELECOMMUNICATIONS COMMERCIAL BANK HOST COUNTRIES CURRENT ACCOUNT SURPLUS INFLATIONARY PRESSURES TAX REGIME RECURRENT EXPENDITURES MONETARY FUND CAPITAL OUTFLOWS MARKETS DEBT CAPITAL NOTES PRIVATE INVESTMENT RETURN INFLATION RATE INTERNATIONAL DEVELOPMENT COMMERCIAL BANK LOANS FINANCIAL SECTOR DEVELOPMENTS INCOME LEVELS DIRECT INVESTMENT LOANS INVESTMENT OPPORTUNITIES RESERVES RULE OF LAW CASH TRANSFERS RETURN ON ASSETS FINANCE PUBLIC INVESTMENT TAXES BANKING SECTOR FISCAL DEFICIT EXPENDITURE TRANSACTIONS POTENTIAL INVESTORS INVESTORS COMMERCIAL BANK LENDING FOREIGN EXCHANGE RESERVES GOOD TAX RATE FUTURE MOBILE PHONE FOREIGN DIRECT INVESTMENT GOVERNMENT FINANCE CAPACITY CONSTRAINTS FIXED CAPITAL BUDGETS INVESTOR CONFIDENCE INTEREST PAYMENT INVESTMENT PROJECTS GOVERNMENT REVENUE EXPENDITURES ECONOMIC EFFICIENCY MARKET POLITICAL UNCERTAINTY FOREIGN EXCHANGE SECURITIES POLITICAL UNCERTAINTIES MICROFINANCE ECONOMIC DEVELOPMENT TAX CODE CURRENCY DEPRECIATION GOODS INVESTOR SECURITY FINANCIAL DEVELOPMENT DEGREE OF RISK BANK LOANS INVESTMENT COMMERCIAL BANKS INVESTMENT PORTFOLIO SHARE INVESTMENT CLIMATE POVERTY FINANCIAL MARKETS TARIFF CAPITAL INFLOWS REVENUE EXTERNAL DEBT TAX POLICY PROFIT INVESTMENTS RISK MANAGEMENT LENDING TRUST FUND EXCHANGE RATE GOVERNMENT INVESTMENT INSTRUMENT INSTITUTIONAL CAPACITIES REMITTANCES PUBLIC SPENDING PROFITS COMMODITY PRICES ARREARS GUARANTEE NONPERFORMING LOANS DEBT RELIEF
Online Access:	http://documents.worldbank.org/curated/en/2016/04/26243858/afghanistan-development-update http://hdl.handle.net/10986/24396

id	okr-10986-24396
recordtype	oai_dc
spelling	okr-10986-243962021-05-25T08:48:06Z Afghanistan Development Update, April 2016 World Bank AUCTION MONETARY POLICY DEFICIT WITHDRAWAL DEPOSIT REGULATORY FRAMEWORK ACCOUNTING DEPOSITS BROAD MONEY FINANCIAL MANAGEMENT INFORMATION SYSTEM INTEREST INTERNATIONAL SECURITY EXCHANGE GOVERNMENT REVENUES ECONOMIC DEVELOPMENTS BALANCE OF PAYMENTS LIQUIDITY DEVELOPING COUNTRIES INFRASTRUCTURE DEVELOPMENT POLITICAL ECONOMY REVENUES PORTFOLIO LOAN TAX CASH TRANSFER INCOME TAX BUDGETING RESERVE INFLATION INTERNATIONAL BANK PENSION BUDGET BANK LENDING CENTRAL BANK MATURITY MACROECONOMIC STABILITY HUMAN RESOURCE LABOR MARKET TRADE BALANCE AGRICULTURAL COMMODITIES CURRENCY HOUSING FINANCE LEGISLATIVE FRAMEWORK GOVERNMENT POLICY TELECOMMUNICATIONS COMMERCIAL BANK HOST COUNTRIES CURRENT ACCOUNT SURPLUS INFLATIONARY PRESSURES TAX REGIME RECURRENT EXPENDITURES MONETARY FUND CAPITAL OUTFLOWS MARKETS DEBT CAPITAL NOTES PRIVATE INVESTMENT RETURN INFLATION RATE INTERNATIONAL DEVELOPMENT COMMERCIAL BANK LOANS FINANCIAL SECTOR DEVELOPMENTS INCOME LEVELS DIRECT INVESTMENT LOANS INVESTMENT OPPORTUNITIES RESERVES RULE OF LAW CASH TRANSFERS RETURN ON ASSETS FINANCE PUBLIC INVESTMENT TAXES BANKING SECTOR FISCAL DEFICIT EXPENDITURE TRANSACTIONS POTENTIAL INVESTORS INVESTORS COMMERCIAL BANK LENDING FOREIGN EXCHANGE RESERVES GOOD TAX RATE FUTURE MOBILE PHONE FOREIGN DIRECT INVESTMENT GOVERNMENT FINANCE CAPACITY CONSTRAINTS FIXED CAPITAL BUDGETS INVESTOR CONFIDENCE INTEREST PAYMENT INVESTMENT PROJECTS GOVERNMENT REVENUE EXPENDITURES ECONOMIC EFFICIENCY MARKET POLITICAL UNCERTAINTY FOREIGN EXCHANGE SECURITIES POLITICAL UNCERTAINTIES MICROFINANCE ECONOMIC DEVELOPMENT TAX CODE CURRENCY DEPRECIATION GOODS INVESTOR SECURITY FINANCIAL DEVELOPMENT DEGREE OF RISK BANK LOANS INVESTMENT COMMERCIAL BANKS INVESTMENT PORTFOLIO SHARE INVESTMENT CLIMATE POVERTY FINANCIAL MARKETS TARIFF CAPITAL INFLOWS REVENUE EXTERNAL DEBT TAX POLICY PROFIT INVESTMENTS RISK MANAGEMENT LENDING TRUST FUND EXCHANGE RATE GOVERNMENT INVESTMENT INSTRUMENT INSTITUTIONAL CAPACITIES REMITTANCES PUBLIC SPENDING PROFITS COMMODITY PRICES ARREARS GUARANTEE NONPERFORMING LOANS DEBT RELIEF The withdrawal of international security forces since 2014 and continuing political uncertainties have resulted in a significant deceleration to economic growth, with fiscal pressures increasing as security threats mount. However, to a significant extent, Afghanistan has successfully managed the immediate challenges resulting from the transition. It has maintained macroeconomic stability and established the conditions for a slow recovery of the economy. Risks to the economy remain significant, and it is vital that the Government identify new sources of growth to replace the declining donor inflows over the longer-term. The medium-term outlook points towards a slow recovery over the next three years. The rate of growth is projected to reach 1.9 percent in 2016, assuming adjustments in firms and households’ behavior in the context of the deteriorating security environment. Growth is projected to gradually increase from 1.9 percent in 2016 to 3.6 percent in 2018, if the political situation stabilizes and planned reforms are successfully implemented. On the other hand, any deterioration in the security environment could weaken growth prospects, with this risk being the most significant faced by the country. 2016-06-02T21:59:33Z 2016-06-02T21:59:33Z 2016-04 Report http://documents.worldbank.org/curated/en/2016/04/26243858/afghanistan-development-update http://hdl.handle.net/10986/24396 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work South Asia Afghanistan
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	AUCTION MONETARY POLICY DEFICIT WITHDRAWAL DEPOSIT REGULATORY FRAMEWORK ACCOUNTING DEPOSITS BROAD MONEY FINANCIAL MANAGEMENT INFORMATION SYSTEM INTEREST INTERNATIONAL SECURITY EXCHANGE GOVERNMENT REVENUES ECONOMIC DEVELOPMENTS BALANCE OF PAYMENTS LIQUIDITY DEVELOPING COUNTRIES INFRASTRUCTURE DEVELOPMENT POLITICAL ECONOMY REVENUES PORTFOLIO LOAN TAX CASH TRANSFER INCOME TAX BUDGETING RESERVE INFLATION INTERNATIONAL BANK PENSION BUDGET BANK LENDING CENTRAL BANK MATURITY MACROECONOMIC STABILITY HUMAN RESOURCE LABOR MARKET TRADE BALANCE AGRICULTURAL COMMODITIES CURRENCY HOUSING FINANCE LEGISLATIVE FRAMEWORK GOVERNMENT POLICY TELECOMMUNICATIONS COMMERCIAL BANK HOST COUNTRIES CURRENT ACCOUNT SURPLUS INFLATIONARY PRESSURES TAX REGIME RECURRENT EXPENDITURES MONETARY FUND CAPITAL OUTFLOWS MARKETS DEBT CAPITAL NOTES PRIVATE INVESTMENT RETURN INFLATION RATE INTERNATIONAL DEVELOPMENT COMMERCIAL BANK LOANS FINANCIAL SECTOR DEVELOPMENTS INCOME LEVELS DIRECT INVESTMENT LOANS INVESTMENT OPPORTUNITIES RESERVES RULE OF LAW CASH TRANSFERS RETURN ON ASSETS FINANCE PUBLIC INVESTMENT TAXES BANKING SECTOR FISCAL DEFICIT EXPENDITURE TRANSACTIONS POTENTIAL INVESTORS INVESTORS COMMERCIAL BANK LENDING FOREIGN EXCHANGE RESERVES GOOD TAX RATE FUTURE MOBILE PHONE FOREIGN DIRECT INVESTMENT GOVERNMENT FINANCE CAPACITY CONSTRAINTS FIXED CAPITAL BUDGETS INVESTOR CONFIDENCE INTEREST PAYMENT INVESTMENT PROJECTS GOVERNMENT REVENUE EXPENDITURES ECONOMIC EFFICIENCY MARKET POLITICAL UNCERTAINTY FOREIGN EXCHANGE SECURITIES POLITICAL UNCERTAINTIES MICROFINANCE ECONOMIC DEVELOPMENT TAX CODE CURRENCY DEPRECIATION GOODS INVESTOR SECURITY FINANCIAL DEVELOPMENT DEGREE OF RISK BANK LOANS INVESTMENT COMMERCIAL BANKS INVESTMENT PORTFOLIO SHARE INVESTMENT CLIMATE POVERTY FINANCIAL MARKETS TARIFF CAPITAL INFLOWS REVENUE EXTERNAL DEBT TAX POLICY PROFIT INVESTMENTS RISK MANAGEMENT LENDING TRUST FUND EXCHANGE RATE GOVERNMENT INVESTMENT INSTRUMENT INSTITUTIONAL CAPACITIES REMITTANCES PUBLIC SPENDING PROFITS COMMODITY PRICES ARREARS GUARANTEE NONPERFORMING LOANS DEBT RELIEF
spellingShingle	AUCTION MONETARY POLICY DEFICIT WITHDRAWAL DEPOSIT REGULATORY FRAMEWORK ACCOUNTING DEPOSITS BROAD MONEY FINANCIAL MANAGEMENT INFORMATION SYSTEM INTEREST INTERNATIONAL SECURITY EXCHANGE GOVERNMENT REVENUES ECONOMIC DEVELOPMENTS BALANCE OF PAYMENTS LIQUIDITY DEVELOPING COUNTRIES INFRASTRUCTURE DEVELOPMENT POLITICAL ECONOMY REVENUES PORTFOLIO LOAN TAX CASH TRANSFER INCOME TAX BUDGETING RESERVE INFLATION INTERNATIONAL BANK PENSION BUDGET BANK LENDING CENTRAL BANK MATURITY MACROECONOMIC STABILITY HUMAN RESOURCE LABOR MARKET TRADE BALANCE AGRICULTURAL COMMODITIES CURRENCY HOUSING FINANCE LEGISLATIVE FRAMEWORK GOVERNMENT POLICY TELECOMMUNICATIONS COMMERCIAL BANK HOST COUNTRIES CURRENT ACCOUNT SURPLUS INFLATIONARY PRESSURES TAX REGIME RECURRENT EXPENDITURES MONETARY FUND CAPITAL OUTFLOWS MARKETS DEBT CAPITAL NOTES PRIVATE INVESTMENT RETURN INFLATION RATE INTERNATIONAL DEVELOPMENT COMMERCIAL BANK LOANS FINANCIAL SECTOR DEVELOPMENTS INCOME LEVELS DIRECT INVESTMENT LOANS INVESTMENT OPPORTUNITIES RESERVES RULE OF LAW CASH TRANSFERS RETURN ON ASSETS FINANCE PUBLIC INVESTMENT TAXES BANKING SECTOR FISCAL DEFICIT EXPENDITURE TRANSACTIONS POTENTIAL INVESTORS INVESTORS COMMERCIAL BANK LENDING FOREIGN EXCHANGE RESERVES GOOD TAX RATE FUTURE MOBILE PHONE FOREIGN DIRECT INVESTMENT GOVERNMENT FINANCE CAPACITY CONSTRAINTS FIXED CAPITAL BUDGETS INVESTOR CONFIDENCE INTEREST PAYMENT INVESTMENT PROJECTS GOVERNMENT REVENUE EXPENDITURES ECONOMIC EFFICIENCY MARKET POLITICAL UNCERTAINTY FOREIGN EXCHANGE SECURITIES POLITICAL UNCERTAINTIES MICROFINANCE ECONOMIC DEVELOPMENT TAX CODE CURRENCY DEPRECIATION GOODS INVESTOR SECURITY FINANCIAL DEVELOPMENT DEGREE OF RISK BANK LOANS INVESTMENT COMMERCIAL BANKS INVESTMENT PORTFOLIO SHARE INVESTMENT CLIMATE POVERTY FINANCIAL MARKETS TARIFF CAPITAL INFLOWS REVENUE EXTERNAL DEBT TAX POLICY PROFIT INVESTMENTS RISK MANAGEMENT LENDING TRUST FUND EXCHANGE RATE GOVERNMENT INVESTMENT INSTRUMENT INSTITUTIONAL CAPACITIES REMITTANCES PUBLIC SPENDING PROFITS COMMODITY PRICES ARREARS GUARANTEE NONPERFORMING LOANS DEBT RELIEF World Bank Afghanistan Development Update, April 2016
geographic_facet	South Asia Afghanistan
description	The withdrawal of international security forces since 2014 and continuing political uncertainties have resulted in a significant deceleration to economic growth, with fiscal pressures increasing as security threats mount. However, to a significant extent, Afghanistan has successfully managed the immediate challenges resulting from the transition. It has maintained macroeconomic stability and established the conditions for a slow recovery of the economy. Risks to the economy remain significant, and it is vital that the Government identify new sources of growth to replace the declining donor inflows over the longer-term. The medium-term outlook points towards a slow recovery over the next three years. The rate of growth is projected to reach 1.9 percent in 2016, assuming adjustments in firms and households’ behavior in the context of the deteriorating security environment. Growth is projected to gradually increase from 1.9 percent in 2016 to 3.6 percent in 2018, if the political situation stabilizes and planned reforms are successfully implemented. On the other hand, any deterioration in the security environment could weaken growth prospects, with this risk being the most significant faced by the country.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Afghanistan Development Update, April 2016
title_short	Afghanistan Development Update, April 2016
title_full	Afghanistan Development Update, April 2016
title_fullStr	Afghanistan Development Update, April 2016
title_full_unstemmed	Afghanistan Development Update, April 2016
title_sort	afghanistan development update, april 2016
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2016/04/26243858/afghanistan-development-update http://hdl.handle.net/10986/24396
_version_	1764456534030417920

Afghanistan Development Update, April 2016

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