Ashgabat, Turkmenistan, Dec. 30
By Huseyn Hasanov - Trend
Turkmenistan, one of the biggest producers of natural gas, managed to adapt to difficult external conditions, including steady decline in oil and gas prices and weakening of economic activity of trade partners, Turkmen President Gurbanguly Berdimuhamedov said.
President Berdimuhamedov made the remarks at the government meeting, the Turkmen Dovlet Habarlary state news agency reported Dec. 30.
“Crisis is still observed in the global economy,” the president said. “Despite the IMF positive forecasts on GDP growth for 2017-2018, the growth rate of the economy remains at a low level in some countries. Some measures have been taken in Turkmenistan over the past two years. The amount of state investments reduced. The exchange rate gradually decreased. Tariffs for utility services also increased once.”
Moreover, programs were adopted to increase the volume of natural gas production, construct new pipelines and develop the petrochemical industry.
Following the mission to Ashgabat in November, IMF experts stressed that the Turkmen economy continues to adapt to the new reality of lower prices for oil and natural gas.
IMF experts drew attention to the fact that the new gas processing complexes planned to be commissioned in the future will contribute to the further economic growth.
The IMF stressed that adjustment measures should be selected to mitigate the undesirable impact on economic growth and vulnerable segments of the population.
According to the IMF, to develop the private sector, special attention should be given to the simplification of administrative procedures, burdensome regulation and privatization of state enterprises.