Taliban regime ‘reversed’ decade-long Afghan economic growth, says UN report

Afghanistan continues to face a crumbling economy a year after the Taliban took over the government, problems that humanitarian aid alone cannot remedy. According to a UN report, the already fragile economy of Afghanistan comes undone in 12 months, which took 10 years to acquire.

According to a report released Wednesday by the United Nations Development Program (UNDP), Afghanistan’s regular economy, which was already in decline, lost nearly $5 billion after the Taliban takeover and is in the process of shrinking. undo “in 12 months what had taken 10 years”. accumulate.”

The Afghan economy had a gross domestic product of around $20 billion just before the Taliban took power in August last year, according to the UN report.

The economy of Afghanistan before the Taliban was heavily dependent on foreign aid. After the transition, however, UNDP notes that foreign donors largely stopped providing aid.

UNDP chief for Asia and the Pacific, Kanni Wignaraja, told a news conference that Afghanistan’s GDP had fallen by about $5 billion in just one year.

Afghanistan now has to depend on meager domestic revenues from agricultural production and charcoal exports as it lacks external support, leading to soaring food prices.

A basket of basic necessities needed to survive food poverty has increased by 35%, forcing poor households to take on more debt or sell assets to survive, the UNDP chief said.

According to a UNDP analysis, banning women from working could result in a loss of up to $1 billion, or up to 5% of national GDP.

“The rights of women and girls are essential for the future of Afghanistan,” said Wignaraja.

In addition to imposing severe restrictions on women, the Taliban has also prevented girls from going to school, and the group itself, as the de facto governing body in Afghanistan, has come under attack. international economic sanctions, which made the already precarious Afghan economy unstable.

Comments are closed.