IMF: Highest GDP growth rates forecasted in Turkmenistan
Azerbaijan, Baku, Oct.28/ Trend, A. Yusifzade /
According to the latest report of the International Monetary Fund (IMF) "Regional Economic Outlook: Middle East and Central Asia", in 2010, Turkmenistan's GDP growth is forecasted at 9.4 percent, which is one of the best indicators among the Central Asia countries.
Last year, real GDP growth of Turkmenistan reached 6.1 percent, and in 2011 is expected to reach 11.5 percent.
According to IMF forecasts, that this year the amount of nominal GDP of Turkmenistan is projected worth $19.9 billion compared to $18.5 billion in 2009, and next year it will increase to $23.5 billion.
In 2009, Turkmenistan's fiscal balance was 7.8 percent of GDP. In 2010, according to IMF forecasts, this figure is expected to reach 2.8 percent of GDP, in 2011 -1.3 percent.
In 2009, the current account surplus in Turkmenistan was (-16.1 percent) of GDP, in 2010 it is projected at (-4.7 percent), in 2011 - (-3.4 percent).
Deflation in Turkmenistan in 2009 amounted to 2.7 percent. In 2010, the consumer price index is expected to reach 3.9 percent, in 2011 - 4.8 percent.
According to the Monetary Fund, growth rates of broad money supply, this year will amount to 20.9 percent compared to 10.9 percent in 2009. Next year, money supply growth is expected to reach 37.3 percent.
According to the IMF forecasts, growth of non-oil GDP of Turkmenistan in 2010 will amount to 15.2 percent, in 2011 - 14 percent. In 2009, the growth of non-oil GDP of Turkmenistan was 17.8 percent.
IMF expects amount of oil production in Turkmenistan for 2010 and 2011 at 0.2 million barrels per day. Oil export forecasts for 2010 and 2011 are not available.
IMF forecasts an increase in export of Turkmenistan's goods in 2010 to $10.1 billion compared to $9.5 billion in 2009, for 2011 is forecasted at $12.5 billion.
According to the IMF forecasts, import of goods into Turkmenistan will fall to $10 billion compared to $11.3 billion in 2009, and in 2011 it will amount to $10.4 billion.
With the revival of global economic growth prospects for economic development has improved in the region of Central Asia. In 2010 and 2011 almost in the region's all countries higher economic growth is projected than in 2009. Taking into account this higher growth rate Turkmenistan plans to cancel the budgetary stimulation in 2011, remaining adaptive monetary policy for some time.