Asia-Plus: TJ Central Bank unaware of shadow economy scale

The article, published by Asia-Plus on 22 July 2021, reports that Hokim Kholiqzoda, head of the National Bank of Tajikistan (NBT), stated at a news conference in Dushanbe that he does not have information about the scale of the hidden economy in the country. The report quotes the NBT head saying “No country will be able to determine the scale of shadow economy,” and suggesting the Agency for Statistics may hold such data. According to the article, the International Monetary Fund (IMF) had earlier indicated in its report that informal economy in Tajikistan accounted for more than 30 percent of gross domestic product (GDP). The NBT head is quoted noting: “Maybe the volume of the shadow economy is equal to 30% of the country’s GDP, but since we are talking about a hidden economy, it is very difficult to determine this.” The article further reports that on 30 June 2021, the lower chamber of parliament (Majlisi Namoyandagon of the Majlisi Oli) endorsed a draft law on amnesty allowing individuals to legalise previously undeclared assets, money and illegal incomes. The report states that legalisation automatically exempts holders from administrative and criminal liability for offences relating to misappropriating or embezzling those assets. The document notes Tajikistan has previously announced three such amnesties, but simultaneous legalisation of both assets and money would be a first.