UN forecasts significant growth in Turkmenistan’s GDP in 2014
Ashgabat, Turkmenistan, Jan. 24
By Huseyn Hasanov - Trend:
The United Nations forecasts a 9.5 percent growth in Turkmenistan's gross domestic product (GDP) in 2014, according to the UN report 'World Economic Situation and Prospects 2014'.
A similar forecast has been prepared by the UN for 2015 too. In 2013, according to the report, Turkmenistan's GDP stood at nine percent.
"Infrastructure development and production growth have contributed to the economic growth of Turkmenistan," according to the report.
Aside from that, the UN said the energy producers in countries of the Commonwealth of Independent States (CIS) have some room to manoeuvre to offset possible negative tendencies in the coming year.
The International Monetary Fund (IMF) in its forecasts indicated that economic growth of Turkmenistan will reach 10.7 percent in 2014, whereas the European Bank for Reconstruction and Development (EBRD) expects a 10 percent GDP growth.
GDP growth in Turkmenistan amounted to 10.2 percent in 2013, according to the country's official statistical data.
Turkmenistan occupies a key position in the region for deliveries of natural gas. Russia, China and Iran import its gas.
Last year the country launched a commercial production at the Galkynysh field, the reserves of which, altogether with the adjacent areas, are estimated at 26.2 trillion cubic meters of gas.
A complex of facilities has been constructed as part of the first phase of Galkynysh field's industrial development. The complex allows producing 30 billion cubic meters of marketable gas per year.
Translated by E.A.