ADB assesses 2.7 percent economic growth of Afghanistan in 2019

ADB assesses 2.7 percent economic growth of Afghanistan in 2019

ADB assesses 2.7 percent economic growth of Afghanistan in 2019

Afghanistan has recorded 2.7 percent economic growth this year and it is possible that the country would have 3.5 percent in the upcoming year, according to a fresh assessment of the Asian Development Bank (ADB).

Last year, the economic growth of Afghanistan was 2.5 percent, according to the ADB assessment.

Economic experts believe that the reason for the law economic growth of Afghanistan is because of the low level of security challenges and drought in neighboring countries.

According to the assessment, in the six months of 2019, the level of inflation was 2 percent and a reduction in the level of import of merchandise. The rate of exports of agricultural products shows an increase of 1.2 percent comparing the same period of last year.

HasibullahMowahid, the professional deputy of Central Statistics Organization, says that if in the first six months, the level of several years’ products is investigated, the growth of the economy of Afghanistan mostly relates to climate changes. Last year, continued rainfalls caused the agricultural products to get increased, he added.

The assessments also show that inflation and hike of price merchandized had its own negative impact on economic dealings. Despite this, the worth of Afghani against Pakistan rupee and Toman of Iran enjoying from a better position.

Every year, the annual report of economic growth after assessment and research of experts in economic affairs in ADB is publishing at the beginning of the solar year.

The goal behind this assessment is showing of agricultural products and the enhancement of export overseas.

ADB believes some parts of agricultural lands that suffered harm as a result of drought are transient.
The main concern is the political situation ruling in the country which would affect the capital holders and merchants in Afghanistan.

On the other, the authorities in the ministry of agriculture saying that comparing last year, the level of vegetables, grains and other agricultural products had considerable increment.

For instance, the level of grain production was 42 percent and the level of vegetable and fruits products anticipated from 25 percent to 30 percent comparing recent years.

This report is arranged as a result of tit-for-tat meetings of capital holders, politicians as well as analyzing of status quo and political background of this country.

Read more related articles about the Afghanistan mirror Economic: https://www.afghanistanmirror.com/category/economic/

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