Forecasts made by some financial analysts and experts that attraction of foreign credits to Tajikistan’s national economy will pose threat to the country’s sovereignty, national security, are not true, deputy of the Majlisi namoyandagon of the Majlisi Oli of Tajikistan, member of the Parliamentary Committee on Economy and Finance Ismoil Talbakov has said.
He believes that in modern conditions there are no such states that do not accept credits from foreign investors for implementation of projects.
“Statistical data show that foreign debt of the United States exceeds $14 trillion, Greece’s debt is 120% as high as the country’s GDP and the country is on edge of default.” He said. “In early 2000 Tajikistan’s foreign debt was 120% as high as the country’s GDP but the situation changed thanks to tight monetary policy of the government. Today, Tajikistan’s foreign debt is only 40-43% as high as our GDP.”
He said those credits the Government of Tajikistan gets in the past few years are not of consumer but of industrial character.
“This fact guarantees that credits will be used for the development of national economy, creation of new workplaces in the country and they will be timely repaid,” Talbakov stressed.
He added that stabilization fund, which was set up in the country several years ago and which is used to repay the country’s foreign debts, makes Tajik market more attractive for potential investors.
“You can see that Tajikistan’s foreign credits are mainly used to implement projects in energy, transport, communication, agricultural processing sectors. There is no need to say that these sectors are quite profitable and credits can be returned very quickly and foreign investors do realize that,” he added.
