Turkmenistan's fiscal outlook remains dependent on revenue from hydrocarbon exports, the Asian Development Bank (ADB) said in a September report.
"The government aims to keep the state budget balanced in 2023 and 2024, benefiting from the positive outlook for energy exports."
Expansion in the large hydrocarbon economy came mainly from reportedly higher production and exports of natural gas while the economy excluding gas and oil benefited from growth in construction wholesale and retail trade transport and catering.
At the same time, in gas exports to the People’s Republic of China in the first half of 2023 is estimated to have been stable.
"More generally, higher demand for gas exports to the People’s Republic of China and other countries in the region may raise total exports in both 2023 and 2024 though no export data are yet available".
Turkmenistan exports gas mainly to China, but also to Russia, Azerbaijan and Uzbekistan. Electricity is imported by Afghanistan, Iran, Kyrgyzstan and Uzbekistan. The country is also an exporter of petroleum products, polymers and synthetic gasoline.
Credits: Eziz Boyarov
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