DUSHANBE, May 13, 2009, Asia-Plus  -- The volumes of remittances from Russia to Tajikistan over the first quarter of this have fallen by 33 percent compared to the same period of 2008, Mr. Axel Schimmelpfennig, the head of the International Monetary Fund’s (IMF) mission to Tajikistan, remarked at the presentation of IMF’s “Regional Economic Outlook: Middle East and Central Asia” in Dushanbe on May 12.

According to him, economies of Caucasus and Central Asia are dependent on remittances from the Russian Federation.  In Tajikistan, this dependence is felt the most, Mr. Schimmelpfennig said, noting that in Tajikistan remittances last year accounted for nearly 55 percent of gross domestic product (GDP).

The volumes of remittances will continue to decrease through whole year of 2009.  This tendency is connected with decrease in economic growth rate in Russia.  This year, the economic growth rate in Russia will decrease by 6 percent.

On the rates of economic growth in Tajikistan, the head of IMF’s mission noted that at the time of preparation of the report growth in Tajikistan had been expected to stand at 2 percent in 2009.  However, risks of decrease in the growth rate were to be observed already that time.  “During the work of our mission, we have got evidences that these risks may materialize and the economic growth rate in the country will tent to zero,” Mr. Schimmelpfennig said.

On the prices of Tajik export commodities, he noted that cotton prices were expected to fall by 23 percent this year and aluminum prices were expected to fall by 50 percent.