Tajikistan’s vital remittance income hurt by Russian Federation economic downturn

Asia's Developing Future

Falling international energy prices, which are causing an economic crisis in the Russian Federation and some other countries in the region, are having major spillover effects on Central Asia. In the economy and financial sector of Tajikistan, remittances from workers have fallen sharply. Tajikistan covers some 141,000 square kilometers, with a population of about 9 million people. With a gross domestic product of about $7.0 billion—per capita about $800—it is one of the most remittance-dependent countries in the world. For several years it was number one in the world in remittances-to-GDP ratio in 2014, dropping to fourth place in 2016 because remittances from the crisis-affected Russian Federation declined. Read the transcript https://bit.ly/2SVDPLz Read the working paper https://www.adb.org/publications/financial-inclusion-regulation-literacy-education-tajikistan About the authors Roman Mogilevskii is associate director and senior research fellow at the Institute of Public Policy and Administration. Shokhboz Asadov is a senior research fellow also at the Institute of Public Policy and Administration, University of Central Asia. Know more about ADBI’s work https://bit.ly/2FCrKr2 https://bit.ly/2RykSly