Tajikistan has successfully emerged fromthe global economic crisis. Economic activity was strong,driven by growth in industrial production and services.Inward remittances remain a key factor in stimulatingdomestic consumption. Although inflation returned to singledigits, it continues to be susceptible to higher globalprices of key imports. The country remains vulnerable to arange of external shocks, and economic outcomes dependcritically on regional trade, transport, and investmentpolicies. Concerns remain with respect to weaknesses in thefinancial sector. Structural reforms continue, andtransparency has increased. The outlook is generallypositive, but chronic risks remain.