Wednesday, July 24, 2024

Afghanistan’s economy on the brink of collapse: USIP

Immigration News

Fidel Rahmati
Fidel Rahmati
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati
Afghan refugees sit outside their tents at a makeshift camp upon their arrival from Pakistan near the Afghanistan-Pakistan Torkham border in Nangarhar province on November 12, 2023. – More than 165,000 Afghans have fled Pakistan in the month since its government ordered 1.7 million people to leave or face arrest and deportation, officials said. (Photo by Wakil Kohsar / AFP)

The United States Institute of Peace (USIP) said in a report published on Friday that Afghanistan’s economy is on the verge of collapse.

Many Afghan families are struggling to meet their basic needs.

The report blames the economic decline on factors like the return of migrants, restrictions on women’s work, and the ban on poppy cultivation without providing alternative crops for farmers.

The ban on poppy cultivation without a replacement plan will cost farmers over a billion dollars, leading to more poverty. Also, around 60,000 women lost their jobs due to a ban on makeup salons, hurting the economy.

The Ministry of Economy of Afghanistan disputes the USIP report, stating that the country’s economy is improving regionally under systematic management.

“The Ministry of Economy of the Taliban administration of Afghanistan strongly rejects the report of the United States Institute of Peace and describes it as completely unconstructive in this situation,” said Abdul Latif Nazari, the deputy minister of economy.

Economic experts suggest that the Taliban administration should create job opportunities and support investment to address economic issues.

The USIP report mentions foreign aid to Afghanistan, with expected aid of $3 billion in 2022, but it’s projected to decrease by half in 2023.

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