Afghanistan to grow at a rate of 6.5% in 2013

According to the Asian Development Bank’s latest report, Afghanistan is predicted to grow at a rate of 6.5%.

The Asian Development Bank (ADB) releases technical reports on the economic growth assessment of Afghanistan twice a year.

The growth rate for 2013 is slightly lower than that of 6.9% in 2012.

“The slight drop in the growth rate does not mean that the country is going towards an economic crisis,” said Joji Tokeshi, Director of the ADB.

The decline in growth rate is linked to the reduction in foreign aid.

Mr. Tokeshi gave his assurance to continue cooperating with Afghanistan until 2015.

“ADB will grant USD 255 in 2013 and the same amount in 2014 to fund development projects in Afghanistan,” said Mr. Tokeshi.

The Bank has spent around USD 2.8bn in Afghanistan since 2002, contributing mainly to the infrastructure of the country including water and energy, railway lines and airports.

Meanwhile economic observers urge the Afghan government to ensure proper management of foreign aid and its allocation for the right projects that would help Afghanistan move towards self-sufficiency.