The National Bank of Tajikistan (NBT) Head Hokim Kholiqzoda held an extended meeting on July 11 to review the results of work carried out over the first six months of this year and discuss tasks set for the second half-year, according to the NBT press center.
President’s Aide for Economic Issues Nematullo Hikmatullozoda, NBT Frist Deputy Head Firdavs Tolibzoda, NBT Deputy Head Firouz Sharifzoda, NBT Deputy Head Alijon Salimzoda as well as senior representatives of commercial banks, the Association of Banks of Tajikistan, the Association of the Small Lenders of Tajikistan, the Deposits and Savings Insurance Fund, and the Credit History Bureau of Tajikistan attended the meeting.
Speaking at the meeting, President’s Aide for Economic Issues Nematullo Hikmatullozoda said that despite the negative impact of external factors on Tajikistan’s economy, the country’s banking system has achieved some success over the first six months of this year.
He, in particular, noted low rate of inflation, stable exchange rate of the national currency, growth in deposits and reduction in non-performing loans (NPLs).
Hikmatullozoda noted that compared to the first six months of last year, the volume of loans provided over the reporting period this year has increased by 42 percent.
According to him, the country’s deposit portfolio has risen 47.9 percent in year to July 1, 2023, reaching 17 billion somonis (equivalent to about 1.6 billion US dollars).
Besides, the President’s Aide for Economic Issues noted that over the first six months of this year, the country’s banking system has attracted 611 million US dollars, which is 20 percent more than in the same period last year.
Over the reporting period, the medium term exchange rate of the US dollar against the Tajik national currency, the somoni, was 1:10.7, which is reportedly 9.0 percent lower than in the same period last year (January-June, 2022).
According to Tajikistan’s financial regulator, inflation rate in the first half of this year stood at 2.3 percent, which is 1.8 percent lower than in January-June last year.
According to data from the NBT, the gross domestic product (GDP) for the first six months of this year has been 54.2 billion somonis (equivalent to about 5 billion US dollars), an increase of 8.3 percent over the same period last year in comparable prices.
