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Afghanistan: Urgent action needed to stabilize Afghan economy
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KABUL, 16 April 2022, (TON): The World Bank in a statement said “Afghanistan’s per capita income has fallen by around one-third in the last months of 2021, wiping out the country’s economic progress achieved since 2007.”
The World Bank said “the World Bank says Afghanistan’s aid-dependent services sector has been hit by the crisis, leading to a collapse in urban employment and incomes. The political crisis has put the gains of around two decades in Afghanistan at risk and will lead the country to grave poverty.”
According to the statement, if the current condition continues, the Gross Domestic Product per capita will decline by around 30 percent between end-2020 and end-2022.
The World Bank updates indicated that the outlook for Afghanistan’s economy is dire under current conditions with international assistance limited to supporting humanitarian needs and basic services, incomes will remain stagnant and the economy is expected to contract further throughout 2022.
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