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Eurasian Development Bank: GDP of Turkmenistan to make 10% in 2013

Business Materials 3 October 2013 12:50 (UTC +04:00)

Turkmenistan, Ashgabat, Oct. 3/ Trend G. Gasanov/

GDP growth in Turkmenistan is projected to make 10 percent due to the outcomes of 2013, it was stated in analytical report of the Eurasian Development Bank (EDB).

"As of the first half-year, GDP growth in Turkmenistan made 9.7 percent at the cost of acceleration of growth in the second quarter (up to 10.2 percent). Trade balance surplus has remained the same in the country, thanks to the price hike on natural gas (7.4 percent in Q2)", according to the report.

According to the official statistics of Turkmenistan, GDP growth stood at 9.8 percent over the last 8 months of 2013, whereas it made 11.1 percent last year.

Turkmenistan occupies one of the key positions in the region for delivery of natural gas to Russia, China and Iran. At the same time, country's leadership is heading for diversification of the economy - oil-and-gas processing, textile industry, cotton manufacturing and production of construction materials have been developing in the recent years.

EDB is an international financial organization established by Russia and Kazakhstan in January of 2006 with the aim to facilitate development of market economy of members-states, their sustainable economic growth and expansion of mutual trade and economic relations.

Members-states of EDB are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.

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