IMF expects Turkmen GDP to grow in 2018
Ashgabat, Turkmenistan, Oct. 11
By Huseyn Hasanov– Trend:
The International Monetary Fund (IMF) forecasts Turkmenistan’s GDP to grow 6.2 percent in 2018 compared to 6.5 percent in 2017, reads a World Economic Outlook report released in October.
In 2019, the growth of the Turkmen economy may reach 5.6 percent. According to IMF estimates, inflation in the Caspian littoral country will be 9.4 percent in 2018 compared to 8 percent in 2017.
In 2019, the rise in consumer prices may reach 8.2 percent, the report said.
Turkmenistan holds one of the key positions in the region in terms of the supply of natural gas - China and Iran are importers. At the same time, Russia, the traditional buyer, which stopped buying Turkmen gas in 2016, is holding talks to resume purchases.
Ashgabat has set a course for diversification of the economy, the industries of textiles and petroleum products have made a progress, the oil- and gas-chemical industries, as well as the industry for production of construction materials are actively developing.