== Abstract ==

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Tajikistan is one of the world's             most remittance-dependent economies, receiving net             remittance inflows equivalent to approximately 40 percent of             Gross Domestic Product (GDP). Falling remittance inflows was             one of the main transmission channels through which the             2008-09 global economic crisis adversely impacted the             economy. Conversely, the pickup in growth since 2009 can             also be traced to the rebound in remittance inflows             (primarily from Russia, where more than 90 percent of Tajik             migrants work), which reached 42 percent of GDP in 2010 and             an estimated 40 percent of GDP in 2011. As the World             Bank's 2011 country economic memorandum has argued,             future growth in Tajikistan will depend crucially on             increasing efficiency and raising private investment rates.             Remittances are likely to grow more slowly than the earlier             trend over the last 5-6 years, but could nonetheless be a             major contributor to future growth if more go into private             investment than in the past.

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== Original document ==

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The different versions of the original document can be found in:

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* [http://hdl.handle.net/10986/26770 http://hdl.handle.net/10986/26770] under the license http://creativecommons.org/licenses/by/3.0/igo

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