English | دری

Afghanistan’s moribund economy facing challenges

in Afghan Business

Afghanistan’s moribund economy facing challenges

Afghanistan’s fragile economy recently became the nation’s top concern, according to a Gallup poll, where two in three Afghans cited local economic conditions getting worse.

Many experts and analysts agree that the handover of security from foreign forces to Afghanistan’s army has left the struggling economy with various challenges including lack of investments and funds.

The unstable Afghani currency is forcing the Central Bank to spend tens of millions of dollars to stem the fall of the Afghani.

Concerns are on the rise about the increasing capital flight. Traders and investors have lost confidence in the government and its efforts in curbing corruption and stimulating economic growth, and money continues to leave Afghanistan.

On the other hand, imports vastly exceed exports. President Ashraf Ghani recently stressed upon encouraging domestic industrial growth and moving away from relying on donors’ support to build the economy and infrastructure.

He called on the key ministries in charge of security for the nation—Ministry of Interior (MoI) and Ministry of Defense (MoD)—to utilize domestic services and products in order to help stimulate economic growth.

Afghanistan’s economy shrank to 3.7% in 2013 and further declined to 1.5% last year, compared to an annual GDP growth of about 9% on average from 2003 to 2012.


Related Articles

Afghanistan’s Rural Development Ministry launched Welfare Projects in Ghor

Rural Development Ministry implemented several welfare projects in western Ghor province. The projects, costing USD 8mn, included 36 small bridges,

Isolation Ward For Coronavirus Patients Opens in Nangarhar

A 100-bed treatment center for isolation and treatment of COVID-19 has been inaugurated in Jalalabad, Nangarhar. Nagarhar Governor Shah Mahmood

Sixty Women Complete Internship Programs in Kandahar

Sixty women graduates received government-issued certificates today recognizing their year-long training and work experience through the U.S. Agency for International

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Your e-mail address will not be published.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*