On December 28, 2024, the employees of the National Bank of Tajikistan collectively watched a live TV broadcast of the Address of the Founder of Peace and National Unity, Leader of the Nation, President of the Republic of Tajikistan, Honorable Emomali Rahmon on the main dimensions of domestic and foreign policy of the Republic of Tajikistan to the Majlisi Oli of the Republic of Tajikistan.
During the analysis and discussion of various areas, the President of the Republic of Tajikistan, Emomali Rahmon, also drew attention to the problems of the country's banking system and stressed that through the implementation of the necessary measures, a stable inflation rate was maintained, which in 2024 amounted to 3.6%.
It was noted that over the past five years, the official salaries of employees in budgetary sectors have increased fourfold (in 2020, 2022, 2023, 2024) and by 100 percent overall, while the rate of inflation or consumer price growth was only 29 percent.
That is, during this period, salaries, pensions and stipends increased significantly relative to the inflation rate, which directly contributed to the reduction of poverty and the improvement of living conditions of the country’s population.
The Head of state further noted that in order to meet the growing needs of the national economy and the population, over the past five years, the country's banking system has provided more than 80 billion somoni loans.
To continue this process, the National Bank and credit organizations were instructed to increase the volume of lending to the economy annually and bring this figure to more than 100 billion somoni by the end of 2027.
It was also emphasized that the formation of financial literacy among citizens and the improvement of tax culture, as one of the key factors for the effective implementation of tax and budgetary policies, including the transition to a cashless payment system, play an important role in ensuring the financial stability of the state and economic development.
In this regard, the government of the country and the relevant ministries and agencies are instructed to take effective measures to improve the level of financial literacy and tax culture among citizens.
The Ministry of Finance, National Bank, Tax Committee, Customs Service, and Agency for Innovation and Digital Technologies, along with other ministries and agencies, as well as local executive authorities, were obligated to ensure the expansion of the use of modern digital technologies as soon as possible. In this process, cashless payments in the public sector and government services must be fully ensured by the end of 2025.
To continue this process, the National Bank of Tajikistan and financial institutions were instructed to take appropriate actions to enhance public confidence in the banking system, attract more deposits from individuals and legal entities, and expand the use of digital banking and financial services. Additionally, there should be taken specific measures to establish branches of commercial banks and other financial institutions, increase in loans provision with low interest rates, as well as ensure the access to quality banking services, especially in the country’s remote regions.
In his Address, Leader of the Nation, President of the Republic of Tajikistan Emomali Rahmon also discussed in detail the issues of effective implementation of domestic and foreign policy and ensuring progress in various fields, including industry, energy, agriculture, roads and transport, investment and business development, education, science and culture, health and social protection, labor and employment and reminded that the entire people of Tajikistan and first of all, members of the Government, people’s deputies, heads of regions, cities and districts, civil servants, intellectuals and activists of society must take more efforts to ensure the fulfillment of the set tasks and eliminate the existing deficiencies and problems.
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30.12.2024
