Washington: Many firms in Afghanistan are adjusting to the new business environment but most still face daunting challenges, the World Bank’s second private sector survey finds.
Conducted in May-June 2022 and published this week, the Private Sector Rapid Survey (PSRS) Round 2 assesses the status, constraints, and investment outlook of businesses, and the impacts of the ongoing economic challenges faced by private sector firms in Afghanistan.
The PSRS Round 1 survey was conducted in October-November 2021 and published in March 2022.
"Afghanistan continues to face enormous social and economic challenges that are impacting heavily on the welfare of its people, especially women, girls, and minorities. The new survey confirms the resilience of Afghanistan’s private sector, which can play a key role in the economic recovery of the country and improving the lives of all Afghans," said Melinda Good, World Bank Country Director for Afghanistan, in a press release on Monday.
According to Good, it also shows that firms continue to suffer from impacts of political uncertainty and policy fragmentation, Afghanistan’s isolation from the international financial sector, and reductions in international assistance.
"Action is required by the authorities to unlock possibilities for much-needed international economic integration and domestic opportunities for Afghanistan’s private sector," Good added.
"This includes increased transparency in public finances and reestablishing central bank independence. With measures like these and continued resilience of businesses, a sustainable private sector-led recovery is possible," Good concluded.
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