Turkmen GDP grows by 111.1 percent

Business Materials 10 September 2012 16:27 (UTC +04:00)

Turkmenistan, Ashgabat, Sept. 10 / Trend H.Hasanov /

In Turkmenistan, GDP growth was 111.1 percent for this year, the Turkmen government said on Monday with reference to the speech by President Gurbanguly Berdimuhamedov at the Cabinet meeting.

"Summarizing statements made ​​at the meeting, President Gurbanguly Berdimuhamedov said that outcome of the first eight months of this year indicates the dynamic development of the economy. Proof for this is the GDP growth of 111.1 percent," the information says.

The volume of industrial production significantly increased with a growth rate of 133.2 percent. High rates remain in the sphere of trade and services, and other industries.

The revenue of the state budget is much higher than the expenditure. Investment increased by 35.8 percent compared to the same period last year.

Positive changes, as noted in the information, took place in the construction industry, where growth, compared to the same period last year, was 118.4 percent, as well as in transport and communications.

Turkmenistan occupies one of key positions in the region in terms of the supply of natural gas - importers are Russia, China, Iran.

The government also adopted a policy of diversification.