DUSHANBE, July 17, 2013, Asia-Plus -- The CIS Macromonitor published by Eurasian Development Bank’s (EDB) Research Department on July 17 notes that in Q1 2013 the CIS economies faced a 0.2% reduction in industrial production caused by a slowdown or decrease in exports and investments in almost all CIS countries. This reportedly retarded the annual growth of the CIS’ aggregate GDP, which stood at 1.7%.

However, EDB experts expect the CIS economies to grow by 3.3% in 2013 and 4% in 2014.  “We believe that the growth of the CIS economies in 2012 and the first six months of 2013 was below their potential,” the authors emphasize.  “If there are no significant external or internal shocks, in the second half of this year the CIS economies will return to the trajectory of their post-crisis (2010-2011) growth.”

Concerning Tajikistan, EDB experts note that Tajikistan’s economy grew significantly in Q1 2013 (by 7.3%) due to the dynamics of the retailing and services sector.

At the same time, the processing industry continued to slow down in the first five months of 2013 and its growth reached a mere 0.4%.

Metallurgy remains stagnant (-1.7%) and the textile and clothing sector has negative growth indicators (-12.2%).

Lower world prices of the country’s main exports (aluminum and cotton) influenced its foreign trade indicators.

Over the first five months of this year, exports have reportedly decreased by 4.2% and imports have increased by 8.8%.

The Eurasian Development Bank (EDB) is an international financial organization founded by Russia and Kazakhstan in 2006.  The members of the Bank are Russia, Kazakhstan, Armenia, Tajikistan and Belarus (2010).  Other states or international organizations can become members by joining the Agreement Establishing the EDB.  The Bank has authorized capital in exceeds US$1.5 billion, which was formed of contributions by its member states: Russia (US$1billion), Kazakhstan (US$500 million), Armenia (US$100,000), Tajikistan (US$500,000) and Belarus (US$15 million). The authorized capital may be increased by resolution of the Bank’s Council. The Bank has the status of an international organization, and is subject to international law.