TAJIK GOVERNMENT SEEKS SUPPORT FROM DONORS

               Dushanbe, May 15. (NIAT "Khovar, Nargis Boyahmedova, Beknazar Abubakr). — The economy of Tajikistan is facing serious difficulties caused by the global financial and economic crisis, which is why the Tajik Government is seeking support from donor community in weathering the consequences of the crisis. This is the wording from the Joint Statement issued after the meeting of chief executives of the Tajik Government's socio-economic team and international donors, held in Dushanbe on May 13th.              The document notes that the situation in macroeconomic sector of the republic is aggravating more intensively than it was expected. In the first four months of 2009 the economic growth has made only 2.9 percent of GDP. Economic shock began to be felt earlier than it was expected, and IMF's forecasts proved much too optimistic. The impact of this shock on economy has been exercised through financial sector (problems with commercial banks' liquidity) and external factors (reduction of remittances, low prices and demand for cotton and aluminum). In the first quarter of 2009 exports have fallen by 41 percent, with imports falling by 11 percent; remittances have decreased by more than 30 percent and the national currency has depreciated by 14 percent.                  It is also said in the Joint Statement that donor organizations would study the opportunities of supporting the state budget of Tajikistan and rendering technical assistance to the country within the frameworks of their programs approved for the current year. They also recommended that the Tajik Government prioritize its measures aimed at mitigating the crisis.