INSUBCONTINENT EXCLUSIVE:
The ban on opium cultivation precipitated a staggering $1.3 billion loss in farmers& incomes, equivalent to approximately 8 percent of the
country&s GDP, the World Bank said in a new report.The bank said that over the past two fiscal years, the real GDP of Afghanistan contracted
by 26 percent, and the country&s economic outlook remains uncertain, with the threat of stagnation looming large until at least
2025.According to the report, structural deficiencies in the private sector and waning international support for essential services are
anticipated to impede any semblance of economic progress.Half of Afghanistan&s population lives in poverty and 15 million people face food
insecurity, it noted.&Afghanistan&s long-term growth prospects depend on a significant shift from its previous reliance on
consumption-driven growth and international aid to a more resilient, private sector-led economy that capitalizes on the country&s
strengths,& said Melinda Good, World Bank Country Director for Afghanistan.&For a sustainable future, Afghanistan needs to address harmful
gender policies, invest in health and education, and focus on the comparative advantages it has in the agricultural and extractive
sectors.&The World Bank pointed out that the increase in Afghanistan&s trade deficit is another challenge for the country&s economy
According to the bank&s report, in 2023, Afghanistan&s imports increased by 23% and reached $7.8 billion.The post Ban on opium cultivation
in Afghanistan cost farmers $1.3 billion first appeared on Ariana News.
