Ashgabat, Turkmenistan, Apr. 18
By Huseyn Hasanov - Trend:
The International Monetary Fund (IMF) forecasts the growth rate of Turkmenistan’s gross domestic product (GDP) at 6.5 percent and 6.3 percent in 2017 and 2018, respectively, according to the IMF’s World Economic Outlook April 2017 report.
In 2016, the growth of the Turkmen economy amounted to 6.2 percent. Inflation in Turkmenistan will amount to 6.2 percent in 2018, compared with 6 percent inflation in 2017, according to the IMF report. In 2016, the growth of consumer prices in Turkmenistan was at 3.5 percent.
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.
Ashgabat chose a course to diversify the local economy. The textile industry, as well as the area of petroleum products, advanced. The oil, gas and chemical industry and the production of building materials are being actively developed.