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Remittances from Tajik Migrants Have Declined

Monday 5 November 2018

DUSHANBE (NBT press service) — As a result of the financial crisis, remittances from Tajik workers in Russia have declined, which has affected the financing of various sectors of Tajikistan’s economy, including banks, said Jamshed Nurmuhammadzoda, head of the National Bank of Tajikistan (NBT) on Monday.

On 2 November, issues related to the development of small and medium-sized enterprises in the country were discussed in the Senate of Tajikistan. On this occasion, addressing the members of the upper house of the Tajik parliament, the head of the NBT said:

As a result of the financial crisis, foreign investment in Tajikistan’s economy has declined, affecting the activities of banks. The reduction in remittances from migrant workers has also had a negative impact.

According to Nurmuhammadzoda, during the first nine months of this year, Tajik entrepreneurs received preferential loans of 345 mln somoni ($37.5 mln). In October, the imposition of banking service fees for the provision of a loan in local currency fell to 3%.

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