Turkmen Stabilization Fund minimizes external crisis factors
Turkmenistan, Ashgabat, Feb. 22 / Trend H. Hasanov /
The Turkmen Stabilization Fund provides a mechanism for minimizing the external crisis. In the future it must enhance the sustainability of the national growth of the country, a report prepared by the Turkmen Institute of Strategic Planning and Economic Development said.
This financial mechanism was established in late 2008 at the expense of state budget surpluses.
"Even when the global economy was in a strong global financial and economic crisis, Turkmenistan was able to resist the global crisis trends and, rather, advanced in its economic development and social guarantees to the population due to its balanced public policy.
This fact is acknowledged by many leading international financial and public organizations - the nominal GDP increased by more than 2.5 times in 2010 compared to 2006.
This key index, reflecting the real economic growth of the country, increased by 109.2 percent in 2010 compared to 2009.
Turkmenistan's foreign trade turnover increased by 1.8 times over the last four years.
Many large objects and complexes were commissioned throughout the country. So, the Turkmenistan-Uzbekistan-Kazakhstan-China gas pipeline and the additional Turkmenistan-Iran gas pipeline have been commissioned.
The internal East-West pipeline is under construction.
Moreover, the whole transport infrastructure of the country is being improved.