WB: Turkmen real GDP to grow 6.3% in 2017

Business Materials 11 May 2017 15:41 (UTC +04:00)

Ashgabat, Turkmenistan, May 11

By Huseyn Hasanov – Trend:

Turkmenistan’s real GDP will grow 6.3 percent in 2017, according to the World Bank’s ‘Trade in Transition’ Europe and Central Asia (ECA) Economic Update made public May 11.

This is while in 2016, Turkmenistan’s real GDP growth was 6.2 percent, the report said.

Inflation in Turkmenistan in 2017 will remain unchanged at the last year’s level of 6 percent, according to the report.

Turkmenistan ranks fourth in the world in terms of the volume of natural gas and has opportunities to export it to China and Iran.

Ashgabat chose a course to diversify the local economy. The textile industry, as well as the area of petroleum products, advanced. The oil, gas and chemical industry and the production of building materials are being actively developed.