DUSHANBE, November 30, 2015, Asia-Plus – Tajik economic analyst Alisher Qodirov considers that the exchange rate between the dollar (USD) and the Tajik national currency, the somoni, will continue to rise until a balance between demand and supply for cash currency is established in the country.
“Taking into account the current situation in Russia and Kazakhstan, which are our main trade partners, I think that the USD exchange rate will rise to 1:9 or event 1:11,” Qodirov noted.
“Over the past fifteen years Tajikistan has get hooked on migrant remittance inflows,” said the expert. “At the same time, they have not created an economic base that could provide new jobs and resources in case of crisis.”
According to him, wages have been growing faster than labor productivity. “Migrant remittance inflows have decreased this year that has affected the country’s economic situation. Dependency on migrant remittance inflows from Russian was and remains high,” Qodirov noted.
The expert pointed to the necessity of taking urgent measures to improve investment and business climate in the country.
