Editor in Chief: Moh. Reza Huwaida Saturday, July 6th, 2024

Concerns over Economy Persist

Keeping in view the current economic standing of Afghanistan, one can easily say that Afghanistan in order to stand on its own would need a long term financial and technical support provided its government takes in time measures to remove constraints for economic development. If the international aid poured in Afghanistan in last 12 years had been properly utilized, the condition would be much better today. Afghanistan stands among the most corrupt countries of the world and over the time this problem has become more severe causing all financial assistance go futile.

Currently, the Afghan economy is highly dependent on foreign financial aids. Sooner or later the international community will stop pouring its money into Afghanistan in the way it is doing today. It might set strict conditions for providing financial assistance to Afghanistan. Amid withdrawal plan of NATO troops from Afghanistan, there are concerns not only over the post-2014 security condition of Afghanistan but also it is feared that its economy will reverse. It is expected that with diminishing military and non-military role of the Western countries, fund for development and reconstruction of Afghanistan will also dry up.

Afghanistan is a country where every sector requires investment – mining, construction, energy, telecommunication, agriculture, transport, education are only a few. But insecurity remains the biggest problem which has made Afghanistan a hard place for doing business. For an economy to nurture, investment plays the role of a backbone. As we can see, both domestic and foreign investments are negligible in Afghanistan due to high business risks. These risks are given birth by lingering insecurity and political instability. Businessmen face serious obstacles. If on the one hand, they somehow, overcome the strict policies of government, on the other they have to keep themselves and their businesses safe from terrorists, kidnappers and other criminals.

Although the government has failed to address the hindrances in the economic sector, it is never late to start planning and acting seriously. Afghanistan has vast deposits of natural resources. For centuries, these resources have remained underutilized. Afghanistan with trillions of dollars-worth mineral resources beneath its earth is one of the poorest countries of the world. Time has come to properly utilize Afghanistan’s own deposits for its development and reconstruction. This is the only way economic prosperity can be achieved in Afghanistan.