BAKU, Azerbaijan, November 10
By Jeila Aliyeva - Trend:
The European Bank for Reconstruction and Development (EBRD) has named the key priorities of Turkmenistan’s economy for 2021, Trend reports with reference to EBRD Transition Report 2020-21.
EBRD notes, that a key priority for Turkmenistan is to deal with the economic and healthcare implications of COVID-19. Thus, the government should offer financial support to the affected sectors and households. Measures should focus on liquidity as well as solvency.
The other priority is noted to be currency convertibility issues need to be addressed and the exchange rate should be adjusted to reflect macroeconomic fundamentals.
Removing exchange rate distortions would improve the competitiveness of the country’s exports and correct external imbalances while stimulating growth of the private sector, the report says.
Also, the collection of economic and social data and its availability must be improved to facilitate sound decisionmaking by all stakeholders and the public at large. Greater transparency would help private sector actors in planning investment, production and financial management decisions, while also helping the government take timely policy actions grounded in rigorous statistical evidence, says the report.
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