Economy of Tajikistan

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{rate, high, increase}
{land, century, early}
{war, force, army}
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{food, make, wine}
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{country, population, people}

Since independence, Tajikistan gradually followed the path of transition economy, reforming its economic policies. With foreign revenue precariously dependent upon exports of cotton and aluminium, the economy is highly vulnerable to external shocks. In fiscal year (FY) 2000, international assistance remained an essential source of support for rehabilitation programs that reintegrated former civil war combatants into the civilian economy, thus helping keep the peace. International assistance also was necessary to address the second year of severe drought that resulted in a continued shortfall of food production. Tajikistan's economy grew substantially after the war. The GDP of Tajikistan expanded at an average rate of 9.6% over the period of 2000-2007 according to the World Bank data. This improved Tajikistan's position among other Central Asian countries (namely Turkmenistan and Uzbekistan), which have degraded economically ever since.[4] As of August 2009, an estimated 60% of Tajikistani citizens live below the poverty line.[5] The 2008 global financial crisis has hit Tajikistan hard, both domestically and internationally. Tajikistan has been hit harder than many countries because it already has a high poverty rate and because many of its citizens depend on remittances from expatriate Tajikistanis.

Contents

Economic history

This is a chart of trend of gross domestic product of Tajikistan at market prices estimated by the International Monetary Fund with figures in millions of ruling currency.

For purchasing power parity comparisons, the US Dollar is exchanged at 0.82 Somoni only.

The Tajikistani economy has been gravely weakened by six years of civil conflict and loss of markets for its products. Tajikistan thus depends on international humanitarian assistance for much of its basic subsistence needs. Even if the peace agreement of June 1997 is honored, the country faces major problems in integrating refugees and former combatants into the economy. The future of Tajikistan's economy and the potential for attracting foreign investment depend upon stability and continued progress in the peace process.

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