EBRD raises GDP forecast for Turkmenistan

Finance 19 January 2022 10:54 (UTC +04:00)
EBRD raises GDP forecast for Turkmenistan

BAKU, Azerbaijan, January 19

By Amina Nazarli - Trend

Turkmenistan’s GDP is expected to grow by 6 percent in 2022, according to the EBRD’s forecast, Head of EBRD Resident Office in Turkmenistan Fatih Turkmenoglu told Trend.

“Remittances-led surge in private consumption and increased investment in infrastructure are main key growth factors. The forecast may be revised depending on the development of the pandemic,” he said.

Touching upon renewable energy, Turkmenoglu emphasized the country’s strong potential for solar and wind power production.

“The Turkmen government foresees the unsustainability of use of hydrocarbon resources and values alternative options for the sustainable energy production. The Bank supports this vision,” a resident country director noted.

According to Turkmenoglu the Bank has no concrete projects regarding the renewable energy sector in Turkmenistan on the table yet but is open to exploring any potential cooperation opportunities in this field.