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Afghan economy to grow by 2.2pc this year: WB

Afghan economy to grow by 2.2pc this year: WB

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On
Jun 05, 2017 - 08:38

WASHINGTON (Pajhwok): The Worldinfo-icon Bank has predicted a 2.6 percent growth rate for Afghanistaninfo-icon in 2017 – a 0.4 percentage point increase from last year's estimate the 2.2 percent.

But the security situation would have a significant impact on the growth rate, said M Ayhan Kose, director of the World Bank Group’s Development Prospects Group.

Also lead author of the latest World Bank report Global Economic Prospects, he told Pajhwok Afghan News: “Well, the uncertainty of the security situation is, of course, something that holds back growth in Afghanistan.”

In its latest report, the bank also forecast a 3.4 and 3.1 percent growth rates respectively for 2018 and 2019. In 2015, Afghanistan's economy grew at 1.1 percent while in 2014 the growth rate was 1.3.

The 2.2 percent growth projection for 2017 is 0.6 percent higher than its January projections for the same period. In its report, the bank underscored rising security threats in the country.

According to the Bank, growth in South Asia remains strong, with regional output projected to rise by 6.8 percent in 2017 and an average of 7.2 percent in 2018-19. Excluding India, growth is projected to average 5.8 percent in 2017-2019, with some cross-country variation.

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