Turkmenistan’s GDP grows by more than 10 percent since early 2013

Photo: Turkmenistan’s GDP grows by more than 10 percent since early 2013
 / Economy news

Ashgabat, Turkmenistan, Dec. 25

By Huseyn Hasanov - Trend:

In 11 months of 2013 the rates of Turkmenistan's GDP growth amounted to 10.1 percent, according to Turkmen Economy and Development Ministry's message.

"In the reporting period there has been a steady growth in GDP, which amounted to 110.1 percent," the ministry said.

The growth of output volumes, in comparison with the same period of last year, has been provided at the level of 113.3 percent, according to the ministry's message.

Regarding the volume of investments, aimed at development of the national economy with all financing sources, the ministry said that, during the reporting period the ratio of this macroeconomic indicator of GDP in Turkmenistan stood at 46.1 percent.

Turkmenistan holds one of the key positions in the region for supplies of natural gas, which is imported by Russia, China and Iran.

Between January and November 2013, the plan for production of natural and associated gas is in the country was fulfilled at 106.4 percent, according to the message. Growth rates of drilling works amounted to 136.8 percent, compared to the same period of 2012.

Ashgabat's official data generally confirms the predictions of international financial institutions. In particular, the International Monetary Fund (IMF) expects that Turkmenistan's economic growth will reach 10.1 percent in 2013 and 10.7 per cent in 2014.

European Bank for Reconstruction and Development (EBRD), in turn, expects that economic growth of Turkmenistan will reach 10 percent in 2013 and 2014.

Translated by E.A.

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