Turkmen president outlines economic tasks for coming years

Business Materials 9 October 2017 11:12 (UTC +04:00)

Ashgabat, Turkmenistan, Oct. 9

By Huseyn Hasanov– Trend:

Turkmen President Gurbanguly Berdimuhamedov summed up the national economy development and defined relevant tasks for the coming years during his speech at a meeting of the country’s Council of Elders Oct. 9, Turkmenistan State News Agency reported.

“Our goal is to diversify economy, expand its export capabilities,” he said, noting that Turkmenistan has started implementing programs to manufacture products for import substitution and increase the volume of export goods.

Good results have already been achieved in the programs’ implementation: the volume of imported goods has decreased, and export has grown, he added.

Speaking about the national program adopted in Turkmenistan in 2007 for the transformation of social conditions of the population of villages, settlements, cities of districts and district centers until 2020, the president noted that thousands of social facilities and engineering infrastructure objects were built and commissioned within its framework.

This is while dozens of major projects of international significance have been implemented within the framework of the program on social and economic development of Turkmenistan for 2012-2016, he said.

Taking into account the average volume of GDP per capita, Turkmenistan, according to its social and economic indicators, has crossed the threshold of becoming a high-income economy, he noted.

The United Nations Department of Economic and Social Affairs, the United Nations Conference on Trade and Development, the International Monetary Fund, the World Bank and other authoritative international organizations confirm the successful implementation of monetary, fiscal, pricing and investment policies in Turkmenistan, the country’s president said.

According to the forecasts of the authoritative international financial institutions, high GDP growth, namely at 6.4 percent, is expected in Turkmenistan in 2017 and 2018, he added.

This serves as clear confirmation of the fact that, since 2007, Turkmenistan has implemented most of the Sustainable Development Goals proclaimed at the 70th Regular Session of the UN General Assembly in September 2015, he noted.