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Financial sector of Tajikistan passed hard stages of financial crises and there are some macroeconomic and external economic data for comparison.
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2nd Q. 2009
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3rd Q. 2009
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4th Q. 2009
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1st Q. 2010
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2nd Q. 2010
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3rd Q. 2010
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GDP per capita
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$578
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$602
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$628
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$553
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$570
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$606
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Economically active population (thousand people)
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2 092
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2 143
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2 150
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2 114
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2 115
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2 151
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Level of unemployment to economically active population
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2.1%
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2.1%
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2.1%
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2.2%
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2.2%
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2.3%
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Average salary (somoni)
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315
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300
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388
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368
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345
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337
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Rate (somoni/US dollars)
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3.9075
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4.0687
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4.1427
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4.3685
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4.3824
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4.3821
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NBT refinancing rate
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10.0%
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9.0%
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8.0%
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8.0%
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8.0%
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9.0%
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Inflation (NBT)
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2.8%
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4.5%
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5.0%
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1.6%
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2.8%
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6.7%
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MFI allocated loans (thousand somoni)
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5 253 721
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5 421 451
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5 272 119
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5 490 216
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5 243 524
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5 562 919
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For 2009, GDP per capita has increased gradually and came up to 628 UD dollars and in 3rd quarter of 2010 came down to 606 US dollars and in comparison with same period of previous year there is an increase for 4 US dollars. Number of economically active population increased gradually during 2009 and slightly decreased in 1st half-year of 2010, but in 3rd quarter of 2010 there is a growth of level of 2009, which is 1.75% in comparison with 1st quarter of 2010. Average salary was sharply increased at the end of 2009 and was reduced down to 337 somoni during three quarters of 2010 and level of decrease is 8.4% in comparison with the beginning of year. The rate of national currency-somoni to US dollar increased rapidly and came to 12.1% during a year and a half. With a goal to support financial sector, the National Bank of Tajikistan reduced the refinancing rate several times and it was reduced from 12% to 9%. Inflation came to 5% at the end of 2009 that was projected as 8% and rapidly increased up to 6.7% at the end of 3rd quarter of 2010. According to the NBT projection, inflation will come to 9% at the end of 2010. Allocated loans of all MFI are described for comparison with indicators of AMFOT members that will be considered in details. All abovementioned data is available at NBT site: www.nbt.tj
According to the NBT data, 123 microfinance organizations were registered in Tajikistan at the end of 2010. 73 MFO out of 123 and one wholesale credit organization and two international organizations are AMFOT members. Coverage level of AMFOT members’ portfolio is 94% and rest 6% are small and medium MFOs, which are not members of AMFOT.
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