BAKU, Azerbaijan, April 15
By Jeila Aliyeva - Trend:
International Monetary Fund (IMF) continues to encourage Turkmenistan’s structural reforms aimed at diversifying the economy, improving the business environment, and promoting the role of the private sector, IMF told Trend.
Furthermore, IMF strives to provide granular policy advice, reflecting the experience of other economies and lessons learned and tailoring this advice to Turkmenistan’s circumstances.
“IMF’s goal to provide policy advice on macroeconomic and financial issues and help Turkmen authorities build institutions and technical capacity,” noted IMF.
“Staff took note of the authorities’ intention to strengthen financial oversight by aligning regulations to Basel principles,” added IMF.
Strengthening the supervisory and regulatory framework will not only alleviate potential systemic risks in the financial sector of Turkmenistan but also pave the way for moving toward a market-based economy, clarified the message.
Earlier, IMF projected Turkmenistan’s real GDP to grow to 4.6 in 2021 from 0.8 in 2020.
Meanwhile, the forecast shows Turkmenistan’s real GDP at the level of 3.9 in 2022.
According to IMF, Turkmenistan’s real GDP was 6.2 in 2018, and 6.3 in 2019.
IMF also shows Turkmenistan’s current account balance projections, which are also expected to grow to 0.8 in 2021.
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