Abstract. The ongoing turbulence in the world economy and finance, the growth of geopolitical competition on a global scale determine the importance of strengthening the regional vector of cooperation. The reorientation of trade flows towards friendly states and the comprehensive expansion of cooperation with neighbors in the region are of particular importance for Russia when it faces massive sanctions against it. In this context, the Central Asian region, and particularly the prospects for strengthening cooperation with Tajikistan, whose economy is characterized by high growth rates and considerable adaptability, are of great interest. The article gives an overview of their socio-economic situation during the period of 2020-2022, and the development of the republic’s economy in 2023 is studied in more detail. The article pays special attention to the main risks to which the economy of Tajikistan is exposed at the current stage of its development as well as the potential for economic growth. As a result of the study, the authors present recommendations for further development of cooperation with Tajikistan.