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UN predicts Turkmenistan’s GDP great growth

Business Materials 27 January 2016 17:28 (UTC +04:00)

Ashgabat, Turkmenistan, Jan. 27

By Huseyn Hasanov- Trend:

Turkmenistan's economy will grow by 10.5 and 9.9 percent in 2016 and 2017 respectively, the UN report "World Economic Situation and Prospects 2016" says.

Turkmenistan's GDP growth was nine percent in 2015.

According to the UN forecasts, inflation is expected to reach 6.3 and 5.9 percent in Turkmenistan in 2016 and 2017 respectively. The inflation amounted to six percent in Turkmenistan in 2015.

According to the WB assessment, as of 2015, the Turkmen economy growth rates totaled 8.5 percent. WB predicts Turkmenistan's economic index growth by 8.9 percent per year in 2016 and 2017.

According to the Turkmen Ministry of Economy and Development, the country's GDP was 6.7 percent in 2015, including the construction industry - 9.3 percent, trade - 10.4 percent, transport and communication sector - 9.8 percent.

The volume of investments made in various sectors of Turkmenistan's economy increased by 8.2 percent and exceeded 53 billion manat compared to 2014.

According to a BP report, Turkmenistan's gas reserves rank fourth in the world. At this stage, the country is able to export it to China and Iran.

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