DUSHANBE, June 4, 2009, Asia-Plus — Local experts say that recent sharp currency devaluation has hurt many enterprises in the country. The devaluation has negatively impacted the agrarian sector as well.
Speaking in an interview with Asia-Plus, Safar Mahmadi, the head of the economic policy and prognosis department within the Ministry of Agriculture (MoA), said that the agrarian sector conducted foreign trade transactions in dollars and therefore, sharp dollar jumps, especially the last devaluation of the dollar in the country, have negatively impacted the sector.
“We currently purchase mineral fertilizers and fuels from other countries for dollars. Besides, a part of goods is also imported from abroad,” said Mahmadi, “The ministry is currently assessing losses and the results will be known later.”
Nozir Yodgori, a spokesman for Barqi Tojik (Tajik electric systems) power holding, also noted that the recent sharp currency devaluation had seriously affected the financial state of the holding. He noted that he could not yet provide any specific figures.
Deputy director of open joint-stock company (OJSC) Tojiktransgaz (Tajik state-run natural-gas distributor), Shavkat Shoimov, said: “We have incurred losses because of the recent devaluation of the dollar. I think the volume of losses is significant.”
We recall that Dushanbe saw sharp currency devaluation on May 29. The dollar fell more than 6 percent against the Tajik national currency, the somoni. Officials from the National Bank of Tajikistan (NBT) that time refrained from commenting on the situation, just saying that the central bank did not intervened on May 29 to prop up the national currency.
