Turkmen parliament approves law ‘On Combating Corruption’

Photo: Turkmen parliament approves law ‘On Combating Corruption’ / Turkmenistan

Ashgabat, Turkmenistan, March 3

By Huseyn Hasanov- Trend:

The Parliament of Turkmenistan (Majlis) approved and unanimously adopted a draft law "On Combating Corruption" at a regular meeting, the parliament reported on March 3.

"This document sets out the main principles of combating corruption, legal and institutional framework to identification, warning of corruption and combat against it as well as elimination of the consequences of corruption offenses," the report said.

The country occupies a key position on natural gas supplies in the region, importers of which are China, Russia and Iran. The largest deposits are concentrated in the east of the country - the total resources of Galkinish with nearby deposits are estimated within 26.2 trillion cubic meters by local geologists and British company GCA.

While the strategic sectors of the economy, including fuel and energy complex, remain under state control, Turkmenistan is focused on the transition to a market economy in other fields. Communications, transport, construction and services enterprises are privatized enterprises.

In one of his speeches, Turkmen President Gurbanguly Berdimuhamedov said that "the negative impact of corruption in Turkmenistan will be eradicated."

In the summer of 2011, Turkmen TV channels showed footage from the courtroom of a group of the Central Bank employees being tried for charges of bribery.

International financial institutions also pay attention on the issue of corruption in Turkmenistan. And, the International Monetary Fund (IMF) noted in December 2013 that "inspiration of private enterprise growth needs to improve business environment and reduce opportunities for corruption."

Privatization program should be implemented on the basis of consultations with the international financial institutions, according to the IMF.

At the same time, the IMF expects Turkmenistan's economic growth to reach by 10.7 percent in 2014. The IMF's report said that a sharp and steady decline in world energy resources prices represents the largest possible risk to the economic growth of Turkmenistan.

Translated by S.I.
Edited by C.N.

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