Afghanistan Economic Update, October 2011

Afghanistan's economy is growing strongly. The growth drivers in recent years have been above-average agricultural production, strong growth in construction and transportation, and security spending enabled by large aid flows, especially in FY2009/10. Real Gross Domestic Product (GDP) growth reached 8.4 percent in FY2010/11. Afghanistan's fiscal position is strengthening. In the last three years revenues grew by an average of 34 percent p.a., thanks to improvements in customs and tax administration. Larger increases are expected once mining operations and with the introduction of a value-added tax in FY2014/15. However, government expenditures will also increase in the coming years due to higher security spending, the roll out of pay-and-grading reforms for the civil service, rising recurrent obligations from large donor-supported projects (including those financed outside of the core budget) and the fiscal costs of the Kabul Bank bail-out. The first phase of the handover of security responsibilities to Afghan national security forces in six locations has been completed.

Bibliographic Details

Main Author:	World Bank
Format:	Report biblioteca
Language:	English en_US
Published:	Washington, DC 2011-10
Subjects:	AGRICULTURE, AIRPORT, AUDITS, BAILOUT, BALANCE OF PAYMENT, BALANCE OF PAYMENTS, BANK ACCOUNTS, BANK GUARANTEES, BANKING SECTOR, BANKING SECTOR REFORM, BANKING SUPERVISION, BANKING SYSTEM, BENCHMARKS, BIDS, BIOMETRIC SYSTEMS, BROAD MONEY, BUSINESS ENVIRONMENT, CAPITAL INFLOWS, CASH BALANCE, CENTRAL BANK, CIVIL SERVICE, COMPETITIVENESS, CONSUMER PRICE INDEX, CREDIT FACILITY, CURRENT ACCOUNT BALANCE, CURRENT ACCOUNT DEFICIT, DEBT SERVICING, DEBT STOCK, DEFLATION, DEPOSIT, DEPOSITS, DEVELOPMENT BANK, DEVELOPMENT INVESTMENT, DEVELOPMENT INVESTMENTS, DEVELOPMENT PATH, DISBURSEMENTS, DRIVERS, DRIVING, ECONOMIC DEVELOPMENTS, EMERGENCY RESPONSE, EMPLOYMENT, EQUIPMENT, EXCHANGE RATE REGIME, EXCHANGE RATES, EXPORTER, EXTERNAL DEBT, EXTERNAL FINANCING, FINANCIAL MANAGEMENT, FINANCIAL SECTOR, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL STATEMENTS, FLOATING EXCHANGE RATE, FOOD PRICES, FREIGHT, FREIGHT SERVICE, FREIGHT SERVICES, FUEL, FUEL PRICES, FUELS, FUTURE GROWTH, GDP PER CAPITA, GOVERNMENT BUDGET, GOVERNMENT EXPENDITURES, GOVERNMENT FINANCE, GOVERNMENT REVENUE, GOVERNMENT SPENDING, GROWTH RATE, GROWTH RATES, HUMAN DEVELOPMENT, INCOME, INCOME TAX, INFLATION, INFORMATION SYSTEM, INFRASTRUCTURE DEVELOPMENT, INSURANCE, INTEREST PAYMENTS, INTERNATIONAL DEVELOPMENT, INTERNATIONAL INTEREST, INTERNATIONAL INVESTORS, INTERNATIONAL RESERVES, INTERNATIONAL SECURITY, INVESTING, INVESTMENT CLIMATE, INVESTMENT FINANCING, INVESTMENT PORTFOLIO, M2, MANUFACTURING INDUSTRY, MARKET DEVELOPMENT, MOBILE BANKING, MOTOR VEHICLES, NATIONAL RAILWAY, NATIONAL SECURITY, NATURAL RESOURCE, NATURAL RESOURCES, NEGATIVE SHOCKS, NET EXPORTS, NEW MARKET, O&M, OPERATING EXPENDITURES, OUTPUT, PAYMENT SYSTEM, PENSION, PENSION REFORM, PENSIONS, POLITICAL STABILITY, PORTFOLIO, PRICE CHANGES, PRICE ELASTICITY, PRICE VOLATILITY, PRIVATE INVESTMENT, PRIVATE INVESTMENTS, PRIVATE SECTOR DEVELOPMENT, PRODUCTIVITY, PUBLIC BUDGET, PUBLIC DEBT, PUBLIC FINANCES, PUBLIC SPENDING, PURCHASING POWER, RAILWAY, RAILWAY NETWORK, RAILWAYS, REAL EXCHANGE RATE, REAL GDP, REAL SECTOR, RECURRENT EXPENDITURE, RECURRENT EXPENDITURES, RED TAPE, REGULATORY CONSTRAINTS, REGULATORY FRAMEWORK, RESERVES, RETURN, RETURNS, RULE OF LAW, SAVINGS, SECURITY CONTROL, SOCIAL PROTECTION, SUSTAINABLE DEVELOPMENT, TAX, TAX ADMINISTRATION, TAX COLLECTION, TAX REVENUE, TAX REVENUES, TECHNICAL ASSISTANCE, TELECOMMUNICATIONS, TOTAL DEBT, TRADE BALANCE, TRADE FLOWS, TRADING, TRAFFIC, TRANSFER OF SECURITY, TRANSIT, TRANSIT TRADE, TRANSPORT, TRANSPORTATION, TREASURY, TRUCKS, TRUST FUND, TRUST FUNDS, WAGES, WEALTH,
Online Access:	http://documents.worldbank.org/curated/en/852081468184759655/Afghanistan-economic-update https://hdl.handle.net/10986/27073
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