Dubai, Sept 22: A radical monetary policy and aggressive economic reforms has catapulted the Afghanistan economy to a 30 per cent GDP growth during last fiscal and with new social reforms underway the economy is expected to grow by 20 per cent this fiscal year, according to the IMF. "In the last 18 months there has been a major progress in achieving financial stability and economic growth with the economy growing at 30 per cent during 2002- 2003" IMF's mission chief for Afghanistan, a Bennett told reporters.
He said the US government has indicated that it will commit 1.26 billion dollars new money in assistance for Afghanistan and allayed fears that engagement in Iraq has diverted attention from Afghanistan and that the international community was fully focused on Afghanistan although the lack of security continues to be a major problem.
He said with a new Afghan currency in place and a decree announced on investment and banking laws, Afghanistan was on the course to recovery path.
The said Afghanistan was likely to have revenue collections of 200 million dollars due to improved procedures as a result of which they can do without borrowing for budget purposes.
The Afghan economy is buoyed by end of drought this year which will boost agricultural production. Bureau Report