IMF: Turkmenistan’s GDP growth to exceed 4%
Ashgabat, Turkmenistan, Apr. 15
By Huseyn Hasanov- Trend:
Turkmenistan's GDP growth will be 4.3 percent and 4.5 percent in 2016 and 2017, respectively, according to the World Economic Outlook report of the International Monetary Fund (IMF).
The IMF experts said that the country's GDP growth will be nearly 6.2 percent by 2021. This is while Turkmenistan's economic growth stood at 6.5 percent in 2015.
The inflation in Turkmenistan will drop to 4.3 percent in 2016, as compared to 6.5 percent in 2015, according to the IMF estimates. The consumer prices in the country are expected to be 4.5 percent in 2017.
Earlier, in the report published by the IMF experts in November of 2015, it was noted that the substantial resources accumulated in the Reserve Monetary Fund and the Stabilization Fund, will enable Turkmenistan to adapt to current challenges.
The IMF welcomed the fact that Turkmenistan's official bodies benefited from the period of high prices for oil and natural gas for ensuring more than twofold increase in the revenues per capita with the scientifically-planned development of the hydrocarbon sector.
Turkmenistan ranks fourth in the world in terms of the volume of natural gas and has opportunities to export it to China and Iran. Meanwhile, Russia suspended the purchases of Turkmen gas in 2016.