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

Economy Needs Attention

Corruption, opium, insecurity and many other such national issues that the government has failed to address in the last 12 years pose serious threat to the future of Afghanistan. Until and unless serious measures are in place for addressing the mentioned issues, Afghanistan will continue to remain instable and economically dependent.

Fundamental steps should have been taken to make Afghan economy start standing on its own. Today, almost all development projects in Afghanistan are executed by funds donated by foreign countries. Afghan government does not possess financial capability to fund the development works of the country and hardly coversome portion of its operational costs.

For an economy to nurture well and fast, investment plays the role of a backbone. As we can see, both domestic and foreign investments are negligible in Afghanistan due high business risks. These risks are given birth by lingering insecurity and political and social instability. The security expenditure is so high in Afghanistan that if it could have been transferred to this country’s reconstruction, we would see miracles. Unfortunately, despite huge investment on security, the situation seems to be deteriorating further. 

When we talk about the international community’s withdrawal from Afghanistan, we predict –keeping in view our past and current experience – that security will deteriorate. But we are forgetting one important point and that is the negative impact on our economy that will be left behind by reduction of international engagement in Afghanistan.

The international community is reducing its role and with that drastic decrement in aids is anticipated. Investment in various sectors, mining on the top and agriculture and industry following it, could push the economy of Afghanistan towards self-reliance. But that is not happening and dreams for a swift economic stability seem to have broken into pieces.

There may be countless reasons, with the deteriorated security condition deemed to be the greatest hurdle to economic prosperity, as it has been for all other social and democratic development.

Whether today or tomorrow, Western money will stop coming to Afghanistan. Although government has wasted much time – a decade – flying blind, still it is not too late for strategic planning to boost the economy. The government needs work with West to improve security, win the trust of investors by providing them safety and facilities, reduce corruption in its own offices and curb the illegal trade of opium.