BAKU, Azerbaijan, May 13
By Jeila Aliyeva - Trend:
Turkmenistan’s economy is expected to grow by 1 percent in 2020 and by 6 percent in 2021 supported by a recovery in China’s demand for gas, Trend reports with reference to European Bank for Reconstruction and Development.
According to the the latest forecast by the European Bank for Reconstruction and Development (EBRD), Turkmenistan’s GDP growth reached 6.3 percent in 2019 and the first quarter of 2020.
EBRD said Turkmenistan’s gas exports mostly depend on China, but the spread of the coronavirus has caused Chinese gas imports to decline by 17 percent.
The bank said Turkmenistan’s gas exports will be hit by a reduction in the value of its gas exports.
"Foreign exchange regulations have tightened because of the reduction of foreign exchange inflows. This interferes with private-sector activities," EBRD said. "The government introduced restrictions on the internal and external movement of citizens but refrained from imposing a strict lockdown that would have disrupted business activities."
EBRD in Turkmenistan focus on expanding private sector operations in the corporate and financial institutions sectors, targeted policy dialogue and fostering coordination among IFIs and donor organizations.
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