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    Afghanistan

    Afghanistan's GDP increases by 2.7% over last year

    Afghanistan's GDP increases by 2.7% over last year

    According to a report from the Ministry of Economy, Afghanistan's Gross Domestic Product (GDP) increased by 2.7% in the past year. The ministry attributed this growth to the expansion of exports, support for the private sector, and several additional contributing factors.

    Photo: GDP
    Source: Investopedia
    Ministry spokesperson Abdul Rahman Habib provided a breakdown of the sectors contributing to GDP. The agricultural sector, accounting for 34.3% of GDP, saw a 2.1% increase. The industrial sector, representing 13.5% of the economy, grew by 2.6%. The mining sector accounts for 2.4% of GDP, while the water, electricity, and gas sectors, making up 2.8%, experienced 5% growth. The services sector remains the largest, contributing 46.8% of the total GDP.

    The Chamber of Commerce and Investment stressed the importance of continued support for Afghanistan’s key sectors to enhance GDP performance. Board member Khanjan Alokozai noted that the Islamic Emirate has prioritized domestic production. As part of this effort, tax reductions have been introduced for industrialists, farmers, and small businesses, which has provided relief to these sectors and encouraged further economic activity.

    Economic expert Abdul Naseer Rashtia pointed out the benefits of focusing on domestic production, stating that it can help prevent currency outflow by reducing reliance on imports. Rashtia also highlighted that increased investment in local industries can generate employment opportunities and contribute to the country's economic growth.

    In addition to supporting production and exports, the Ministry of Economy listed several other factors that have positively impacted Afghanistan’s GDP. These include the stability of the Afghan currency against the U.S. dollar, measures to prevent currency smuggling, a reduction in raw material prices, reconstruction of highways, and the implementation of national and entrepreneurial projects across different sectors.

     

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    25.09.2024, 13:02   Comments (0)   778
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    On this topic

    Afghanistan's GDP grows by 2.7% amid increased exports and private sector support 

    24.09.2024, 16:30

    Taliban enforces ban on live political broadcasts, curbing media freedom in Afghanistan 

    24.09.2024, 09:31

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    Turkmenistan invests over $1.5bn in Afghanistan to strengthen infrastructure and economic ties 

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