Turkmenistan’s GDP growth rate exceeds 10 percent in 2013

Photo: Turkmenistan’s GDP growth rate exceeds 10 percent in 2013 / Finance

Ashgabat, Turkmenistan, Jan. 13

By Huseyn Hasanov- Trend:

Turkmenistan's GDP growth rate amounted to 10.2 percent in 2013, Turkmen Ministry of Economy and Development said on Jan. 13.

"The GDP growth rates amounted to 10.2 percent in 2013, the growth rates in industry was 7.3 percent, and 17.3 percent in construction. The volume of capital investments increased by 7.1 percent compared to 2012 and amounted to over 46 billion manat, the ministry said.

The volume of the foreign trade turnover exceeded $31 billion during the reporting period. It was possible to keep the inflation level "in the prescribed limits", according to the ministry.

In addition, thanks to attraction of investments, large socio-economic projects are implemented in Turkmenistan. The ratio of this figure to GDP amounted to 46.7 percent.
Turkmenistan holds one of the key positions in the region for supplies of natural gas, which is imported by Russia, China and Iran.

In 2013, the growth rates in natural gas production in the country amounted to 100.1 percent, oil and gas condensate was 102.1 percent, and associated gas 102 percent, according to the ministry.

Ashgabat's official data generally confirms the predictions of international financial institutions. International Monetary Fund expects that Turkmenistan's economic growth will reach 10.1 percent in 2013 and 10.7 percent in 2014.

The European Bank for Reconstruction and Development (EBRD), in turn, expects that economic growth of Turkmenistan will reach 10 percent in 2013 and 2014. EBRD said that the economic growth remains relatively high thanks to the implementation of a number of major projects for production of natural resources.

Translated by L.Z.

Edited by C.N.

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