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Afghan Economy Dropped Around One-Third: World Bank

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KABUL: The World Bank warned of wiping out Afghanistan’s economic progression as the country’s per capita income has dropped around one-third in the recent months of 2021.

According to the World Bank, Afghanistan’s aid-dependent services sector has been hit by the crisis—which has led to a collapse in urban employment and incomes.

The political crisis has put the gains of around two decades in Afghanistan at risk and will lead the country to grave poverty, the World Bank said.

In a statement, the World Bank said that if the current condition continues, the Gross Domestic Product per capita will decline by around 30 percent between end-2020 and end-2022.

The World Bank updates indicated that the outlook for Afghanistan’s economy is dire under current conditions with international assistance limited to supporting humanitarian needs and basic services, incomes will remain stagnant and the economy is expected to contract further throughout 2022.

Meanwhile, economists believe that if the current economic challenges are not solved, Afghanistan will face a severe economic collapse.

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