Turkmenistan expects high GDP growth by 2025
ASHGABAT, Turkmenistan, Feb. 14
By Huseyn Hasanov – Trend:
Turkmenistan's GDP growth is expected to reach 8.2 percent by 2025, Trend reports referring to the Neutral Turkmenistan newspaper.
The share of industry in the GDP structure will reach 33.8 percent, agriculture - 8.9 percent, construction - 11.5 percent and services - 45.8 percent.
Such indicators are expected to be observed within the approved program for Turkmenistan’s socio-economic development for the period until 2025.
The intensification of activity to transform state facilities into joint stock companies and increase opportunities to attract capital of the private sector and foreign firms are among the most important spheres.
Among the main sectors as the driving forces of the economy in the near future are power industry, oil and gas production and processing, electronics, industry, agriculture, transport and communications, tourism.
It is forecasted that the total volume of investments planned to be made in fixed assets will be equal to 229.3 billion Turkmen manat in the coming period, of which 91.3 percent or 209.2 billion manat, will be transferred to the manufacturing sector. The share of private sector trade must reach 91 percent.
In accordance with Turkmenistan’s official data, the growth rate of Turkmenistan's GDP in 2019 amounted to 6.3 percent.
Some 1,704 industrial and social-cultural facilities worth about $10 billion were commissioned during the reporting period.
Ashgabat has embarked on the diversification of the local economy, advanced the textile and oil products industries. The petrochemical and gas chemical industries and the production of building materials are actively developing.