ASHGABAT, Turkmenistan, Nov. 14
By Huseyn Hasanov– Trend:
The growth of Turkmen gross domestic product (GDP) this year will amount to 6.3 percent, Trend reports referring to the country’s Ministry of Finance and Economy.
By 2025, this indicator is projected at 8.2 percent, the contribution of the services sector in GDP volume is expected to grow to 45.8 percent, industries - 33.8 percent, construction - 11.5 percent, agriculture - 8.9 percent, the report said.
In accordance with the seven-year Turkmen development program, it is planned to put into operation 289 investment objects (253 new and 36 reconstructed ones), while 273 are production facilities.
In the fuel and energy sector, 22 facilities will be commissioned and upgraded in 2019-2025, which will diversify the activities of the oil and gas complex and increase its export opportunities, the Turkmenistan State News Agency reported.
In the electric power industry, there are plans to commission seven facilities in the upcoming period. The commissioning of new facilities will help to meet the growing demand for electricity from domestic consumers and increase supplies to foreign markets. According to experts’ calculations, in 2019-2025, the volume of electricity generation will increase by 17.4 percent, and its export - by 4.5 percent.
Agricultural policy is aimed at stable growth in agricultural production. In the medium term, 56 facilities are planned to be commissioned and modernized.
The industrial and communication sectors are also defined as priority spheres. In these sectors, in 2019-2025, it is planned to commission new objects and reconstruct the existing ones, 41 investment objects in total.
The production of mineral fertilizers (nitrogen, potash, phosphorus) over these years will increase by 39.3 percent, and their export - by 58.3 percent. In particular, the production of potash fertilizers in 2025, compared to 2019, is expected to grow 4 times, and their export - almost 5.7 times.
In the coming years, an increase in the manufacture of chemical products, building materials and textile products is forecasted.
Thus, the production of sodium sulfate will increase 10 times, technical iodine - 2.3 times, sulfuric acid - 2.4 times, building glass - 42.4 percent, wall materials - 24.4 percent, knitwear and garments - by 48.9 percent and cotton fabrics - by 16.1 percent.
The creation of an extensive transport and logistics network will make it possible to increase cargo transportation by 10.2 percent. As a result, the exports of industrial products and communications for 2019-2025 will increase by 29.9 percent.
A package of measures for the development of the private sector is also envisaged. The Turkmen Union of Industrialists and Entrepreneurs plans to commission 138 facilities.