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Glimmers of hope about revival of Afghan economy emerge

in Afghan Business

Glimmers of hope about revival of Afghan economy emerge

afghan economyThe long-drawn-out election process left many businesses to shut down and caused a major blow to the investment sector.

Political instability and uncertainty about the security situation has resulted in an economic crisis, with Afghanistan’s exports declining by over 20% this year.

But, glimmers of hope have surfaced as the recount of votes has somewhat taken shape

Mir Zaman Popal, Head of the Afghan Chamber of Commerce and Industries (ACCI), expressed optimism about the country’s economy.

“As soon as the new president is declared, Afghanistan’s economy might revive and exports might increase by up to 40%,” said Popal.

He added exports stood at USD 3bn in 2013 but have witnessed a 26% drop this year.

ACCI Deputy Head, Khan Jan Alokozay, said investors have taken out their capital from the country due to political instability caused by the recent tensions between the two presidential candidates-Abdullah Abdullah and Ashraf Ghani.

While the vote audit is in the process, tensions between the two candidates continue to slow down the process. Whether the new president will be declared by the end of this month or not is hard to answer.

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