24.10.2007

The National Bank of Tajikistan has summed up its activity for 9 months of 2007

On October, 24th, 2007 National Bank of Tajikistan hold a regular press-conference. During the conference were summed up the NBT and banking systems activity results for 9 months of 2007.

The NBT Deputy Chairman D.Eshov was opening the press-conference with the report in front of domestic and foreign journalists. Particularly, he has noticed that for the reporting period were observed real growth of production, stable growth of economy and improvement of macroeconomic position.

In the beginning of the period, inflation rate was characterized by relative stability, however, since July, the world prices for basic imported goods (flour, wheat and fuel) had sharply changed and they exerted additional pressure upon inflation. Therefore, in September its level has made 6,3 % and by the end of period has reached 12,3 %. Because of bellowed-mentioned prices increasing, inflation rate has made: provisions 15,2 %, non-food commodities 3,8 % and paid services 15,9 %.

Further D.Eshov has noticed, that according preliminary data for 9 months of a current year, deposits have continued a tendency for increasing. Comparing with previous years and for the reporting period, they have increased by 87,6 %, making up TJS 2 071,1 million in the end of the period. In deposits structure there is the physical persons increasing tendency, which is, in comparison with the beginning of the year, has increased by 51,1 % and made TJS 460,1 million.

Also it was noticed, that the total legal entities deposits structure has made TJS 1611,0 million, and TJS 1238,9 million of them are in foreign currency and TJS 327,1 million - in national currency.

For the considered period it was crediting growth in the areas of the republic, particularly, in the remote mountain regions. For nine months of the current year credit investments in comparison with a previous year have increased by 29,2 % and have made TJS 3148,6 million. The overall structure of credit investments balance consists of the following sectors: agriculture - TJS 1 608,1 million, commercial activity - TJS 434,1 million, industry - TJS 294,1 million, physical persons - TJS 329,3 million, trade and food - TJS 196,9 million, other sectors - TJS 286,1 million.

It was underlined, that in the end of the period given out credits have made TJS 2063,5 million. In comparison with this period of last year, they increased by 72,6 %. Credits repayment in comparison with the corresponding period of last year has increased by 49,3 % and has made TJS 1331,3 million.

For the reporting period was observed stirring up of banking system activity, banks’ and microfinancial organizations’ financial position strengthening, and also was increasing the banks’ branches quantity.

As for September, 1st of the financial year, banking system of the country is presented by following organizations:

- 9 self-dependent banks;
- 1 branch of the foreign bank;
- 8 credit societies;
- 1 non-banking financial organization;
- 7 microcredit deposit organizations;
- 24 microcredit organizations;
- 38 micro-loan funds.

As for September, 1st, the total credit organizations indicators tendency is:

- total assets of credit organizations (banks, credit organizations and other non-banking financial organizations) have made TJS 4 011,5 mln., concerning the beginning of the year they have increased by TJS 1 617,5 million or 67,6 %;

- total liabilities have made TJS 3 439,2 million and concerning the beginning of the year, they have increased by TJS 1426,1 million or 70,8 %;

- total balance capital has made TJS 572,7 million and concerning the beginning of the year it has increased by TJS 192,6 million or 50,7 %.

During the press-conference it was noticed, that for the reporting period the country’s foreign trade turnover has made US $2453,4 mln. Export of goods for this period has increased by 9,0 % and has made US $986,0 mln. or 46,6 % to GDP in comparison with the similar period of the previous year.

For the reporting period import of goods has increased by 35,5 % and has made US $1467,5 million or 69,4 % to GDP. The import commodity structure consists of consumer goods, prepared food production, minerals, vehicles, automobiles and equipment.

In the end of the press-conference the NBT Deputy Chairman D.Eshov has answered to the questions of the journalists.