EBRD: Turkmenistan’s GDP to grow by next two years
Ashgabat, Turkmenistan, May 12
By Huseyn Hasanov- Trend:
The European Bank for Reconstruction and Development (EBRD) forecasts Turkmenistan's GDP growth at the level of 6.5 percent and 7.1 percent in 2016 and 2017 respectively, EBRD report said.
The bank's experts note that the Turkmen economy's growth was 6.5 percent in 2015, as compared to 10.3 percent in 2014. The improvement in Turkmenistan's growth in 2017 the experts link to the fact that the country is a largest exporter of energy raw materials.
EBRD report said that the risks to this latest outlook include continuing political tensions, as well the possibility of a sharp deceleration in growth in China, a prolonged weakness in commodity prices and a possible further drop in the price of oil.
The report also said that the weak commodity prices and recession in Russia are continuing to put pressure on the economies of Central Asia.
Turkmenistan ranks fourth in the world in terms of the gas reserve volume and exports gas to China and Iran.
Edited by SI