Business
COVID-19 impacts; Global economy to shrink by 5.2% this year
The global economy will shrink by 5.2% this year – marking the deepest recession since World War II, says the World Bank in its latest forecasts.
The Coronavirus pandemic and lockdown measures to contain it have embarked the global economy into a severe reduction.
The forecast indicates, “Economic activity among advanced economies is anticipated to shrink 7% in 2020 as domestic demand and supply, trade, and finance have been severely disrupted.”
It also adds, “Emerging market and developing economies (EMDEs) are expected to shrink by 2.5% this year, their first contraction as a group in at least sixty years. Per capita incomes are expected to decline by 3.6%, which will tip millions of people into extreme poverty this year.”
Countries where the pandemic has been the most severe and where there is a heavy reliance on global trade, tourism, commodity exports, and external financing, will be hit hard, according to the WB findings.
Because of the disrupted pandemic-control measures, the U.S. economy is forecasted to drop by 6.1% this year.
Also, the Euro Area is expected to shrink 9.1% in 2020 as widespread outbreaks took a heavy toll on activity.
Business
Afghanistan to stop importing Pakistani medicines in 19 Days
Pakistani pharmaceutical importers have been warned to settle all pending commercial transactions within the next 19 days to avoid disruption.
The Islamic Emirate has announced that, starting 20th February 2026, customs across Afghanistan will no longer process medicines imported from Pakistan.
The Ministry of Finance has been instructed to enforce the measure, according to an official directive from the Deputy of Economic Affairs.
Pakistani pharmaceutical importers have been warned to settle all pending commercial transactions within the next 19 days to avoid disruption.
Late last year, the Ministry of Finance had allowed the clearance of Pakistani medicines at Afghan customs for a limited three-month period. With 19 days remaining in that period, once it expires, traders will no longer be able to import these medicines into the country.
Afghanistan relies heavily on imported medicines to meet domestic demand, with Pakistan being one of the main suppliers.
This decision comes amid broader economic and trade policy changes by the Islamic Emirate, aimed at regulating imports and promoting local production.
Analysts however warn that the move could impact the availability of certain pharmaceutical products, making it crucial for authorities to ensure alternative sources or boost domestic manufacturing to prevent shortages.
Business
Afghan trade delegation visits Bangladesh to boost economic ties
The delegation, led by Deputy Minister of Industry and Commerce Ahmadullah Zahid, includes senior government officials as well as five Afghan traders representing various sectors.
A senior Afghan trade delegation has arrived in Bangladesh on an official visit aimed at strengthening bilateral trade and expanding economic cooperation between the two countries.
The delegation, led by Deputy Minister of Industry and Commerce Ahmadullah Zahid, includes senior government officials as well as five Afghan traders representing various sectors.
According to Afghanistan’s Ministry of Industry and Commerce, discussions during the visit will focus on enhancing trade relations, facilitating exports and imports, and identifying opportunities for joint investment.
Talks are also expected to explore broader commercial cooperation and the potential signing of memoranda of understanding to support long-term trade partnerships.
Officials said the visit is intended to help Afghan traders gain access to new markets, increase export opportunities for Afghan products, and promote closer regional economic integration.
The Ministry emphasized that such high-level engagements play a key role in driving economic growth, expanding trade links, and strengthening the foundations of Afghanistan’s national economy.
Business
500 Jeribs of land allocated for industrial park in Kandahar
The land, located in the Noda area of Daman district, was formally handed over to the Directorate of Industry and Commerce after the completion of all legal and administrative procedures.
Five hundred jeribs of state-owned land have been officially allocated for the construction of an industrial park in Daman district of Kandahar province, based on a decree issued by the Islamic Emirate’s Supreme Leader decree.
The land, located in the Noda area of Daman district, was formally handed over to the Directorate of Industry and Commerce after the completion of all legal and administrative procedures.
The transfer was carried out by the General Directorate of Land Affairs of the Ministry of Agriculture, with technical cooperation from the Kandahar Department of Agriculture, Irrigation and Livestock.
Esmatullah Farhad, director of land transfer and distribution, said a standard industrial park will be developed on the site, providing space for industrial factories and contributing to the growth of industry and expansion of trade in Kandahar.
Officials say the move is part of broader efforts to strengthen economic infrastructure, support investment, and promote domestic production in the country.
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