English | دری

Karzai’s administration lacked clear economic policy: Afghanistan’s Central Statistics Org

in Afghan Business

CSOAfghanistan’s Central Statistics Organization (CSO) criticized the Karzai administration for lacking a clear economic policy over the past 13 years.

CSO official Hasibullah Mowahed said the government has failed to undertaken necessary strides towards increasing foreign investment.

On the other hand, the Afghanistan Investment Support Agency (AISA) presented a different theory about the economic approach.

AISA Chief Wafiullah Iftekhar attributed the failure of the economy to the lack of focus on the industrial development.

According to AISA, foreign investment dipped to circa USD 700mn from USD 6bn in 2006.

The downturn in the economy was amplified during the elections process when the country was electing Karzai’s successor.

The run-off led to a political gridlock over claims of elections fraud rather than a smooth transfer power. The economy became a hostage to the political uncertainty and insecurity.

The rate of economic growth is currently at 6.3% and the trade balance deficit has increased to 94%.

Hopes for economic recovery to the formation of the new government led by Dr. Ashraf Ghani, who was once a top economist at the World Bank, focusing on developing economies.


Tags assigned to this article:
Afghanistan's Central Statistics Office

Related Articles

Saffron festival opens in Kabul

The first Saffron Festival kicked off in Kabul on Monday in a bid to promote saffron cultivation in the country.

Pakistan to restart work on incomplete projects

Pakistan has promised resumption of work on several incomplete projects in Afghanistan, the Ministry of Finance said on Monday. A

World Bank agrees to help build Peshawar-Kabul highway

The World Bank has agreed in principle to finance the Peshawar-Kabul highway which will help boost intra-regional trade. According to

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.