Description - Afghanistan: Investment Climate Statement 2015 by Penny Hill Press
The Afghan economy has experienced steady economic growth averaging 10 percent between 2005 and 2013. That growth was driven largely by the international presence, including spending by international security forces and international aid agencies. As international assistance declines, growth is expected to be one to two percent per year in the short term and three to four percent per year in the medium term. This growth is not expected to be sufficient to cover anticipated government budget deficits, and the Afghan government must therefore focus on improving domestic revenue generation. The success of private sector led development will depend on the government's ability to convince reluctant investors of the business opportunities in the country and that security risks are manageable.With a population growth rate of 2.8 percent, the Afghan government recognizes that the development of a vibrant private sector is crucial to the reconstruction of an economy impaired by decades of conflict and mismanagement. The government has stated a commitment in principle to fostering private-sector-led economic development and increasing domestic and foreign investment, as reflected in the Afghanistan National Development Strategy (ANDS). Its efforts to build an enabling environment for a competitive private sector; to expand the scope of private investment by developing natural resources and infrastructure; and to promote investment have been limited by institutional capacity, rent seeking behavior, and the political will to undertake necessary reforms.
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