Ashgabat, Turkmenistan, Oct. 6
By Huseyn Hasanov – Trend:
The GDP growth rate of Turkmenistan was 6.4 percent in the first nine months of 2017, said the country’s President Gurbanguly Berdimuhamedov at a meeting of the Cabinet of Ministers, the Turkmen Dovlet Habarlary state news agency reported.
According to Berdimuhamedov, thanks to progressive measures, there have been fundamental changes that ensure reliable stability of the local economy against various external risks, and the impact of the global economic crisis has diminished.
“This allowed us to maintain high GDP growth, at around 6.4 percent, to increase industrial production, maintain a stable rate of Turkmen manat, low prices for goods and services on the domestic market, as well as increase investments in social sphere,” noted the Turkmen president.
During the reporting period, the country commissioned 216 big facilities worth about $4 billion, as well as 1.5 million square meters of housing.
According to BP, the country’s recoverable reserves are estimated at 17.5 trillion cubic meters of gas or nine percent of total global reserves, which puts Turkmenistan on the fourth position after Iran, Russia and Qatar.
Turkmenistan supplies gas to China and Iran. Turkmenistan is diversifying its economy, developing the textile and oil products industry, actively developing oil and gas chemical industries and the industry for the production of construction materials.