DUSHANBE, May 6, 2011, Asia-Plus — The main reason for devaluation of the Tajik national currency, the somoni, against the dollar is gasoline price hike, Deputy Finance Minister Jamoliddin Nouraliyev, told Asia-Plus in an interview.
“The other factor that also contributes to increase in the USD exchange rate in the country’s currency market is prevalence of imports over exports,” the deputy minister noted.
According to him, further increase in the USD exchange rate may affect the national budget’s parameters and fulfillment by Tajikistan of its obligations on external debt.
Nouraliyev, however, considers that this trend will not lead to increase in the budget deficit. He added that the ministry of finance along with central bank is currently working on harmonizing the finance ministry’s fiscal policy and the regulating bank’s monetary policy.
