Turkmenistan's GDP increases significantly since beginning of year

Business Materials 13 September 2014 14:44 (UTC +04:00)

Ashgabat, Turkmenistan, Sep.13
By Huseyn Hasanov- Trend:
The growth rate of gross domestic product (GDP) increased by 10.3 percent in Turkmenistan in January-July 2014, the country's ministry of economics and development said.
"The growth in the industry sector was 10.1 percent, construction - 13.8 percent. Positive results have been achieved in the field of trade and services," the statement said.
According to the macroeconomic indicators for the eight months of the current year, the amount of spent investments was 30.4 billion Turkmen manat. (the official rate of the Turkmen manat to 1 USD stands at 2.85).

The ratio of the macro-economic indicator of GDP equals 45.9 percent, said the ministry's report.

The growth rate of output reached 113.5 percent compared to the same period last year. The growth rates of retail turnover for 8 months of this year increased by 17.5 percent.
International Monetary Fund (IMF) in its projections indicated that the economic growth of Turkmenistan will reach 10.7 percent this year. UN predicts GDP growth of Turkmenistan in 2014 at 9.5 percent. In 2013, the country's GDP growth was 10.2 percent, according to official statistics.