Business
IEA welcomes World Bank report on Afghanistan’s economy
The Deputy Prime Minister for Economic Affairs of Islamic Emirate of Afghanistan (IEA) on Thursday welcomed the recent World Bank report on Afghanistan’s economy.
The office says that facts related to the country’s economic situation are reflected in the report.
Mullah Abdul Ghani Baradar’s office said in a statement that “the Islamic Emirate believes that if the international community pays attention to positive interaction instead of imposing restrictions, Afghanistan will progress further in the economic field and the burden of responsibility on the shoulders of the international community will be reduced.”
“If all international organizations such as the World Bank present a true picture of the concrete realities of Afghanistan, the way of positive interaction with the Islamic Emirate will be paved,” the statement read.
The World Bank report states that Afghanistan’s exports and imports have increased, monetary stability has been maintained, and domestic revenues have increased.
According to the report, during January to April 2023, imports stood at $2.4 billion, reflecting a 27 percent growth against the same period last year.
Iran remains the most significant import origin country (21 percent), followed by Pakistan (18 percent), China (16 percent), and the United Arab Emirates (13 percent), the World Bank reported.
However, the Jan-Apr 2023 merchandise trade deficit at $1.8 billion is 38 percent higher than the $1.3 billion observed in the comparable period of 2022.
Unofficial data for January to April this year indicates that Afghanistan’s customs show total exports reached $0.6 billion — a 4 percent rise compared to the same period in 2022.
The export growth during Jan-Apr 2023 can primarily be attributed to an increase in the exports of coal, by 13 percent, and textiles by 14 percent, the report stated.
Pakistan remains Afghanistan’s largest export market accounting for 63 percent of total exports, followed by India (26 percent). Exports to Pakistan are mainly food and coal. Coal exports to Pakistan amounted to $140.7 million in Jan- Apr 2023 – 13 percent higher than the coal exports in the comparable period last year.
Business
‘Made in Afghanistan’ expo opens in Tashkent
The Afghanistan Chamber of Commerce and Investment has announced that a major exhibition of Afghan products titled “Made in Afghanistan” is opening today (Wednesday) in Uzbekistan’s capital Tashkent.
According to the chamber, the expo—supported financially by the United Nations Development Programme—will run until Friday and aims to showcase Afghanistan’s production and export potential.
More than 60 booths have been set up by Afghan traders, featuring a wide range of products including carpets, dried and fresh fruits, saffron, pine nuts, cotton, precious and semi-precious stones, as well as beverages.
Officials from the chamber expressed hope that the expo will help expand trade relations between Afghanistan and countries in the region, particularly Uzbekistan.
Business
Afghani strengthens nearly 10% against US dollar amid banking sector reforms
The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.
Afghanistan’s central bank, Da Afghanistan Bank, says the national currency has appreciated by 9.93% against the US dollar during the year 1404, citing steady progress in the country’s financial and banking systems.
Officials attributed the gains to cautious monetary policies that have helped stabilise the Afghani against major global currencies while also boosting its value against the dollar.
The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.
As part of efforts to better manage liquidity, authorities also collected and destroyed worn-out banknotes in circulation. At the same time, officials reported growth in electronic banking, with digital payment usage rising in recent months.
Central bank spokesperson Haseebullah Noori said initiatives are underway to broaden access to banking services nationwide, including the wider rollout of Islamic banking options.
Analysts welcomed the stabilisation efforts but stressed the need to address ongoing challenges facing domestic banks, including the impact of international financial sanctions on Afghanistan.
They added that expanding Islamic banking could help draw more savings into the formal financial system, noting that a significant share of personal wealth remains outside banks. Bringing those funds into the sector, they said, could inject billions of Afghanis into the economy and further support financial stability.
Business
Uzbekistan delivers over 290 tons of aid to Afghanistan
The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.
Uzbekistan has delivered more than 290 tons of humanitarian aid to Afghanistan, according to the country’s Ministry of Foreign Affairs.
The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.
The shipment includes essential food supplies such as flour, rice, wheat, vegetable oil, instant meals, pasta, and confectionery. An official handover ceremony was held in the border town of Hairatan.
Local officials, including Balkh province representatives and authorities from Hairatan, expressed appreciation for the continued support, acknowledging Uzbekistan’s efforts to assist the Afghan people.
Among those present at the ceremony were Uzbekistan’s Ambassador to Afghanistan, Oybek Usmanov, and Surkhandarya regional governor Ulugbek Kosimov.
The aid delivery underscores Uzbekistan’s ongoing humanitarian engagement and its broader efforts to promote regional cooperation and stability.
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