ADB predicts reduction in Afghanistan economic growth
By Khaama Press - 02 Nov 2012, 3:28 pm
Officials in Asian Development Bank (ADB) also expressed concerns regarding a slight reduction in economic growth during 2013 and emphasized to boost the agriculture in Afghanistan in a bid to improve the economic growth of the country.
According to the economic growth perspective of the ADB, Afghanistan’s economic growth for next year has been predicted at 6.5 percent.
This comes as economic growht in 2011 was 5.8% while in 2012 the economic growth was recorded at 6.9%.
Joji Tokeshi Director of the Asian Development Bank for Afghanistan said, “This is a technical report which has been prepared considering the economic growth assessment in the region and Afghanistan and we are preparing such reports two times a year. A slight reduction in economic growth for 2013 in Afghanistan does not mean that the country is going towards an economic crisis.”
ADB officials said economic growth reduction in Afghanistan has direct links with the foreign aid reduction.
Mr. Tokeshi said they have spent around $2.8 billion since 2002 in Afghanistan to rehabilitate the inftrastructure including water and energy, railway lines and Airports.
He said the aid by the Asian Development Bank had positive impact in Afghanistan and vowed to continue ADB’s cooperation in Afghanistan until 2015.
“We will provide $326 million in 2012, $255 million in 2013 and $255 million will be provided in 2014 to fund the projects in Afghanistan. The funds will be paid by ADB and are non-refundable.”, ADB director Joji Tokeshi said.
This comes as the Interntional Community in Tokyo conference in July vowed to provide $16.5 billion funds to Afghanistan for the next four years subject to Afghan government’s commitment to fight graft.
In the meantime economic observers urge the Afghan government to take necessary steps for the better implementation of foreign aid in a bid to help Afghanistan become self-sufficient.