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Turkmen economy stable despite global financial crisis: government

Business Materials 23 February 2009 13:25 (UTC +04:00)

Turkmenistan, Ashgabat, Feb. 23 / Trend , E.Hasanov/

Turkmenistan's macroeconomic situation is stable due to preventive measures such as the Stabilization Fund despite the global financial crisis, an official Turkmen source said.

An expert group led by Vice Prime Minister T. Japarova submitted a report to President Gurbangulu Berdimuhammedov recently stating the above, the source said.

Turkmenistan is a key natural gas exporter in the Caspian region.

Recently the country actively began diversifying its energy transport routes.

Russia and India are buying Turkmen gas.

China plans to import gas from the country by late 2009.

Experts of the European Bank for Reconstruction and Development and International Monetary Fund said Turkmenistan's measures to minimize the consequences of the crisis are timely. They said the Stabilization Fund and other banking reforms enabled Turkmenistan to strengthen its financial position.

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