Since the beginning of the year, the growth rate of Turkmenistan's gross domestic product (GDP) has remained at 6.2 percent, the Neutral Turkmenistan newspaper reported.
This was stated by President Serdar Berdimuhamedov at a government meeting.
The President ordered on the basis of the milestones achieved in the first quarter of 2023 to continue to ensure macroeconomic stability, the report says.
Turkmenistan is one of the key suppliers of energy resources in the region.
As of 2022, natural gas is purchased by China (the main importer), Russia, Azerbaijan (through Iran) and Uzbekistan. Electricity is imported by Afghanistan, Iran, Kyrgyzstan and Uzbekistan. Turkmenistan also exports oil products, textiles, mineral fertilizers and food products to world markets.
Natural gas production of Turkmenistan in January-March 2023 increased by 4.5% compared to a year earlier; oil production - by 1.9%, its processing - by 3.6%. The information also says that during the reporting period the foreign trade turnover rose by 8.4% compared to a year earlier and the export of natural gas by 2.8%.
At the meeting, it was noted that the construction of power lines and telecommunications cable along the Turkmenistan-Afghanistan-Pakistan (TAP) route and the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline continues. Berdimuhamedov instructed to continue developing Galkynysh, the second largest gas field in the world, and to begin investment development of new oil and gas fields in the Caspian Sea.
As of April 1, the revenues part of Turkmenistan's state budget was executed at the level of 115.5%, while the expenditures part - 97.1%.
"The volume of capital investments directed to the development of the national economy at the expense of all sources of financing as a proportion to GDP made 13.7%".
During the reporting period, 44.8% of assimilated capex was directed to the construction of industrial enterprises, 55.2% - to the construction of social facilities.
The European Bank for Reconstruction and Development (EBRD) expects Turkmenistan's economic growth of 6% in 2023, the Asian Development Bank (ADB) - 6.5%, the International Monetary Fund (IMF) - 2.3%.
Credits: Eziz Boyarov, Ashgabat
Comments (0)