Global crisis not impacts Turkmenistan's economic development: government

Business Materials 24 June 2009 15:18 (UTC +04:00)

Turkmenistan, Ashgabat, June 24 / Trend G. Hasanov /

Global crisis did not impact Turkmenistan's economic development due to preventive measures, national TV channel Altin Asir reported on June 24 with reference to Vice Prime Minister Tuvakmammad Japarov's report.

First, stabile growth of all branches of economy, as well as stabile rate of national currency - manat testifies this fact, Japarov said. Turkmenistan conducted monetary reform - denomination of national currency in 2008, as well as unified currency rates in past. 

Japarov's report was delivered at the last meeting of the Cabinet of Ministers. Japarov heads commission on analyses of negative impact of the world finance-economic crisis on the country' economy. 

Natural gas brings Turkmen state treasury main profit. Creation of stabilization fund, re-calculation of state budget-2009, reconsideration of several contracts with foreign companies given reduction of prices on construction materials provoked by the world crisis were announced as anti-crisis measures in Turkmenistan.

Moreover, the Turkmen government modernizes oil refineries, reduced excises on petrol and diesel fuel and told about purchase of highly profitable assets abroad, including placing of diplomatic missions of Turkmenistan.

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