OREANDA-NEWS. On July 16, 2009 At the next press conference of the National Bank of Tajikistan, which took place for domestic and foreign journalists it was considered such actual issues, as the course of implementation of monetary policy of the Republic of Tajikistan, rates of development of national economy, results of the activity of the National Bank of Tajikistan and banking system of the country for the first half-year 2009, achievements and shortages for the reporting period, undertaken certain measures on minimization of negative influence of global financial crisis on the banking system and national economy. The members of the Board of the National Bank of Tajikistan, leadership members and heads of departments and divisions of the bank have participated at the given press conference, reported the press-centre of National Bank of Tajikistan.

Addressing to journalists the Chairman of the National Bank of Tajikistan has noted that it is observed a tendency of growth of the economy of the republic for the first half-year 2009.

In particular:
1. Gross Domestic Product.
For the first half year of 2008: 6 562,0 million somoni, real growth - 5,8 %;
For the first half year of 2009: 7 826,6 million somoni, real growth - 2,8 %.

2. Inflation.
For the first half year of 2008 it made 8,3 %.

For the first half year of 2009 it reached 2,8 %:

- prices for foodstuffs - 2,1 %;

- non-foodstuffs - 2,4 %;

- paid services - 7,3 %.

Forecast of inflation for 2009: 13,0 %.

3. Trading balance.
Foreign trade turnover: USD 1615,8 million, it has decreased to 30,6 % in comparison with the previous year’s first half year;

Export: USD 411,4 million, its decrease - 48,0 %;

Import: USD 1 204,4 million, its decrease - 21,6 %;

Deficit of trading balance: - USD 793,0 million, growth against the similar period of previous year - 6,3 %;

4. Rate of foreign exchange (USD)

For the first half year of 2009: +27,3 %;

For the first half year of 2008: ? 0,98 %.

5. Money supply (as of June 30, 2009).

Reserve money: 1 840,2 million somoni,

growth - 27,2 % (393,6 million somoni) against the similar date of 2008;

Volume of cash in circulation: 1 592, 8 million somoni; growth - 29,6 % (363,5 million somoni) against the similar date of 2008;

Money supply М2 (recent data): 1774, 3 million somoni; growth - 19,9 % against the similar date of 2008.

6. Monetary policy.

Standard of required reserves at 7 % and 9 %;

dollarization of economy - more than 70 %;

refinancing rate is lowered from 13,5 % to 9 %;

Total balance of gold and foreign currency reserves as of June 30, 2009 – USD 184, 8 million.

7. Cash

As of June 30, 2009 the amount of money resources put in circulation made 1633,9 million somoni, 1616,3 million somoni of them are banknotes and 17,6 million somoni are metal coins.
For the reporting half-year the National Bank of Tajikistan and commercial banks have withdrawn from circulation shabby banknotes for the amount of 159,7 million somoni.

8. Banking system.

Credit institutions - 126 units: 12 banks and 114 non-bank credit institutions including: 8 credit societies, 20 micro-deposit credit institutions, 43 micro-credit institutions, 43 micro- lending funds.

Total assets: 6 932,0 million somoni, growth - 7,8 %;

Total liabilities: 5 767,0 million somoni, growth - 2,9 %;

Balance capital: 1 165,0 million somoni, growth - 41,8 %.

9. Deposits (recent data)

Total balance:

as of June 30, 2008: 1 784,6 million somoni;

as of June 30, 2009: 2 146,8 million somoni;
 
- in comparison with the similar date of past year it increased by 20,3 %.

Deposits of individuals - 853,3 million somoni, in comparison with the similar date of past year it increased by 27,8 %.

Deposits in national currency - 659,7 million somoni, in comparison with the similar date of past year it increased by 12,3 %.
 
Average interest rate of time deposits:

in national currency - 17,5 %;

in foreign currency - 15,7 %.

10. Credits (recent data)

Total balance: as of June 30, 2008: 4 539,0 million somoni;

as of June 30, 2009: 5 489,0 million somoni;

in comparison with the similar date of previous year it increased by 20,9 %.

in national currency it increased to 11,8 %, in foreign currency it increased to 28,9 %.

Share of credits extended in national currency makes 43,0 %, in foreign currency - 57,0 %;

The volume of extended credits for the first half year of 2009 made 2 158,3 million somoni and it increased in comparison with the similar period of previous year by 13,7 %;

The volume of repaid credits for the first half year of 2009 made 1 529,4 million somoni and it increased in comparison with the similar period of previous year by 17,0 %;

Volume of short-term credits - 4 487,9 million somoni;

Volume of long-term credits - 1 001,1 million somoni;
 
- average term is set from 343 days to 365 days;

Average interest rate of credits: - 24,3 % in national currency and 24,4 % in foreign currency.

11. Micro-credits (recent data)

For the first half-year of 2008: 884,2 million somoni;

For the first half-year of 2009: 848,6 million somoni;

- it decreased in comparison with the previous year’s first half year for 4,0 % (35,6 million somoni).

12. Payments system

Total amount of payments on the republic - 5205,7 thousand units, it increased in comparison with the previous year’s first half year by 39,0 %;

Total amount of payments on the republic - 32202,7 million somoni, in comparison with the first half of the year of last year it decreased to 7,7 %;

The number of banks - emitters of plastic cards - 7 units;

- 63 431 units of plastic cards, it increased by 38,0 %;

- 62 593 owners of plastic cards, their number increased by 41,6 %;

- amount of ATMs - 149, it increased by 38 %;

- 138 teller terminals, it increased by 35,3 %;

- 84 POS terminals in shops and services centers, it increased by 29,2 %.