Turkmenistan, Ashgabat, May 11 / Trend H.Hasanov /
Turkmenistan will develop its economy, relying on modern institutional state-market regulation framework, President Gurbangulu Berdimuhammedov said in his article "Turkmenistan's Economic Strategy: Relying on the People, For the Sake of the People."
The country is developing a socio-economic development strategy for the period until 2030 with the adjustment effect on the global financial crisis.
Turkmenistan recently adopted a new constitution, which reflects a gradual transition to market relations. The article focuses on the fact that large enterprises, primarily in the energy sector, will remain in state ownership. According to the British company BP, Turkmenistan occupies the fourth place in the world in terms of natural gas reserves.
"Yet the crisis did not cause a phasing out of production downtime in the country, or loss of jobs, or delays of wages," Berdimuhammedov said.
The article emphasized that the country's economic course has withstood the test of time, and a modern Turkmenistan "will help minimize the impact of the crisis on the national economy."
"The underlying factor here was the balance of government regulation to use the state's financial and political empowerment, including effective savings structure, high investments in fixed assets and human capital," the article stated.
Berdimuhammedov also noted that production occupies a significant proportion of the GDP. The figure reached almost 72 percent in 2008-2009.
Large-scale production is linked to modern development priorities, he wrote, as industry provides an external and domestic demand, and agriculture saturates the domestic food and construction markets with new industrial investments.
"So in a sense we find ourselves in the role of students, who learn from the mistakes of the world," Berdimuhammedov stressed.