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Friday 5 October 2018

17% of Tajiks Lives with Less than $1/day


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DUSHANBE — In Tajikistan, 17% of the population lives on less than $1 per day, and almost half live on $1.33. In the same time, the share of each Tajik in the external debt is $320.

According to official state data, 29.7% of the population of Tajikistan is in poverty, and 14% is in extreme poverty. “Tajikistan is the poorest country in the CIS, where 47% of the population lives on less than $1.33 per day, and 17% live on less than $0.85", says the UN World Food Program (WFP) August survey in Tajikistan. According to the World Bank’s methodology, the poor are those who live on less than $1.9 per day.

The Survey notes that WFP is developing a five-year country strategic plan, which aims to support the efforts of the Government of Tajikistan to achieve the “Zero Hunger” by 2024. It is expected that the currently prepared plan will be approved in the middle of next year.

The World Bank study notes that the lowest poverty rates are observed in Dushanbe and Sughd, where most economic activity is concentrated. In contrast, GBAO, Khatlon and areas of republican subordination are usually characterized by a level of poverty above the national average.

Debt burden
The Ministry of Finance of the Republic of Tajikistan said on Friday that the share of each Tajik in the structure of the country’s external debt is $320. This figure is obtained taking into account the population of Tajikistan, which is more than 9 mln people, and the total amount of external debt (at the beginning of July of the current year), about $2.9 bln.

According to the Ministry, the external debt of the republic in the second quarter of this year amounted to 38.9% of GDP. During this period, $90.6 mln was spent on servicing foreign debt.

Earlier it was reported that in 2018-2020 the peak of external debt service falls. According to the Public Debt Management Strategy, the limit of nominal external debt is observed, that is, it should not exceed 40% of GDP. Currently, the foreign debt with 38.9% of GDP is close to the threshold. According to the World Bank (WB), the Tajik authorities intend to revise the Medium-Term Debt Management Strategy and loosen the fiscal rule on the threshold debt ceiling, increasing it from the current 40% of GDP to 60% of GDP.

In the first half of this year, 8 loan and grant agreements were signed in the amount of $267.5 mln. More than 153 mln of this amount falls on grant funds. The amount of loan funds is $ 114.2 mln.

The Ministry of Finance reports that according to the agreements reached with some international financial institutions, in the 2018-2019 fiscal year, the republic will obtain exclusively grants from them, including from the World Bank.

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