Afghanistan's gross domestic product (GDP) has increased by 2.7% over the past year, the Ministry of Economy announced. Abdul Rahman Habib, the ministry's spokesperson, attributed this growth to several key factors, including an uptick in exports and increased support for the private sector.
According to Habib, the growth figures by sector are as follows: the agricultural sector grew by 2.1%, contributing 34.3% to GDP; the industrial sector saw a 2.6% increase, making up 13.5% of GDP; the mining sector expanded by 2.4%; the water, electricity, and gas sector reported a notable growth of 5%, comprising 2.8% of GDP; while the services sector accounted for 46.8%.
The Chamber of Commerce and Investment emphasized the need for ongoing support across various sectors to further boost GDP revenues. Khanjan Alokozai, a board member, highlighted the Islamic Emirate's focus on enhancing domestic production.
“Taxes on industrialists and farmers have been reduced, and small businesses have also benefited from tax reductions,” he noted.
Economic expert Abdul Naseer Rashtia underscored the importance of an inward-looking economy, stating that prioritizing local production can help prevent currency outflow, create jobs, and stimulate economic growth.
The Ministry of Economy also pointed to additional factors contributing to GDP growth, such as the expansion of exports, stability in the Afghan currency against the dollar, efforts to combat currency smuggling, a decrease in raw material prices, the reconstruction of highways, and the implementation of national and entrepreneurial projects across various sectors.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)