Tajikistan Country Economic Update, Fall 2020 : Economic Slowdown Amid the Pandemic

The COVID-19 pandemic had a significant adverse impact on the Tajik economy. Real GDP growth slowed to 4.2 percent year-on-year in the first nine months of 2020, compared to 7.2 percent a year earlier. Restrictions on labor mobility and economic ac...

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Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2021
Subjects:	ECONOMIC GROWTH ECONOMIC SLOWDOWN INFLATION CURRENT ACCOUNT EXPORTS FOREIGN DIRECT INVESTMENT FISCAL POLICY FISCAL TRENDS PUBLIC DEBT MONETARY POLICY ECONOMIC OUTLOOK RISKS CORONAVIRUS COVID-19 PANDEMIC IMPACT HUNGER
Online Access:	http://documents.worldbank.org/curated/en/856841608613708986/Tajikistan-Economic-Slowdown-Amid-the-Pandemic http://hdl.handle.net/10986/34960

id	okr-10986-34960
recordtype	oai_dc
spelling	okr-10986-349602021-04-23T14:02:13Z Tajikistan Country Economic Update, Fall 2020 : Economic Slowdown Amid the Pandemic World Bank ECONOMIC GROWTH ECONOMIC SLOWDOWN INFLATION CURRENT ACCOUNT EXPORTS FOREIGN DIRECT INVESTMENT FISCAL POLICY FISCAL TRENDS PUBLIC DEBT MONETARY POLICY ECONOMIC OUTLOOK RISKS CORONAVIRUS COVID-19 PANDEMIC IMPACT HUNGER The COVID-19 pandemic had a significant adverse impact on the Tajik economy. Real GDP growth slowed to 4.2 percent year-on-year in the first nine months of 2020, compared to 7.2 percent a year earlier. Restrictions on labor mobility and economic activity at home and abroad resulted in lower migrant remittances, weaker consumer demand, and reduced investments. Although exports enjoyed a record global demand for gold, the domestic market collapsed, suggesting a more severe impact of COVID-19 on domestic jobs and incomes. A growing share of the population reported reducing their food consumption, and the inability of previously returned migrants to travel abroad led to a significant increase in the unemployment rate. The healthcare system faces unprecedented pressure to accommodate a sudden influx of patients. International financial institutions and partner countries rushed with financial and in-kind aid to help Tajikistan contain the pandemic’s impact. In an effort to ameliorate the economic fallout, the authorities deferred tax collections, boosted health and social spending, and eased monetary policy. They established an interagency task force to address health challenges emerging from the pandemic. 2021-01-04T20:01:43Z 2021-01-04T20:01:43Z 2020-12-21 Report http://documents.worldbank.org/curated/en/856841608613708986/Tajikistan-Economic-Slowdown-Amid-the-Pandemic http://hdl.handle.net/10986/34960 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Economic Updates and Modeling Europe and Central Asia Tajikistan
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ECONOMIC GROWTH ECONOMIC SLOWDOWN INFLATION CURRENT ACCOUNT EXPORTS FOREIGN DIRECT INVESTMENT FISCAL POLICY FISCAL TRENDS PUBLIC DEBT MONETARY POLICY ECONOMIC OUTLOOK RISKS CORONAVIRUS COVID-19 PANDEMIC IMPACT HUNGER
spellingShingle	ECONOMIC GROWTH ECONOMIC SLOWDOWN INFLATION CURRENT ACCOUNT EXPORTS FOREIGN DIRECT INVESTMENT FISCAL POLICY FISCAL TRENDS PUBLIC DEBT MONETARY POLICY ECONOMIC OUTLOOK RISKS CORONAVIRUS COVID-19 PANDEMIC IMPACT HUNGER World Bank Tajikistan Country Economic Update, Fall 2020 : Economic Slowdown Amid the Pandemic
geographic_facet	Europe and Central Asia Tajikistan
description	The COVID-19 pandemic had a significant adverse impact on the Tajik economy. Real GDP growth slowed to 4.2 percent year-on-year in the first nine months of 2020, compared to 7.2 percent a year earlier. Restrictions on labor mobility and economic activity at home and abroad resulted in lower migrant remittances, weaker consumer demand, and reduced investments. Although exports enjoyed a record global demand for gold, the domestic market collapsed, suggesting a more severe impact of COVID-19 on domestic jobs and incomes. A growing share of the population reported reducing their food consumption, and the inability of previously returned migrants to travel abroad led to a significant increase in the unemployment rate. The healthcare system faces unprecedented pressure to accommodate a sudden influx of patients. International financial institutions and partner countries rushed with financial and in-kind aid to help Tajikistan contain the pandemic’s impact. In an effort to ameliorate the economic fallout, the authorities deferred tax collections, boosted health and social spending, and eased monetary policy. They established an interagency task force to address health challenges emerging from the pandemic.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Tajikistan Country Economic Update, Fall 2020 : Economic Slowdown Amid the Pandemic
title_short	Tajikistan Country Economic Update, Fall 2020 : Economic Slowdown Amid the Pandemic
title_full	Tajikistan Country Economic Update, Fall 2020 : Economic Slowdown Amid the Pandemic
title_fullStr	Tajikistan Country Economic Update, Fall 2020 : Economic Slowdown Amid the Pandemic
title_full_unstemmed	Tajikistan Country Economic Update, Fall 2020 : Economic Slowdown Amid the Pandemic
title_sort	tajikistan country economic update, fall 2020 : economic slowdown amid the pandemic
publisher	World Bank, Washington, DC
publishDate	2021
url	http://documents.worldbank.org/curated/en/856841608613708986/Tajikistan-Economic-Slowdown-Amid-the-Pandemic http://hdl.handle.net/10986/34960
_version_	1764482019748741120

Tajikistan Country Economic Update, Fall 2020 : Economic Slowdown Amid the Pandemic

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