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IMF confirms stability of Turkmen economy

Business Materials 8 October 2018 17:33 (UTC +04:00)

Ashgabat, Turkmenistan, Oct. 8

By Huseyn Hasanov– Trend:

The International Monetary Fund (IMF) has confirmed the stability of economic growth in Turkmenistan, Turkmenstan's state news agency reported on Oct. 8.

Recently, a group of IMF representatives headed by Natalia Tamirisa was in Ashgabat to assess the development of the macroeconomic and financial situation, discuss challenges and priorities in the economic policy of Turkmenistan.

A statement was made at the end of the visit stating that the structure of economic growth changed the relationship between domestic demand and exports with an increase in the share of the latter, which was mainly due to policies to reduce imports.

The IMF press release to the Turkmen government also stated that the increase in the price of oil products on the world market has a positive impact on the Turkmen economy, its foreign trade and the implementation of the main financial plan - the state budget.

According to experts, in the long run, support for economic growth in Turkmenistan will be provided by an increase in exports of natural gas, petrochemical and other products. The IMF statement said that there is a need to continue reconfiguring policies to further reduce external imbalances, improve competitiveness and reach the goal of achieving sustainable, diversified and inclusive growth.

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