BAKU, Azerbaijan, April 6. Asian Development Bank (ADB) has projected Turkmenistan’s GDP growth at 6 percent in 2022 and at 5.8 percent in 2023, Trend reports via Asian Development Outlook 2022.
According to the report, Turkmenistan's GDP grew from 5 percent in 2021 to 6 percent in 2022. At the same time, the growth was provided by an increase in oil and gas production, industry, as well as textile manufacturing.
Thus, due to high export earnings, and also effective import substitution, domestic production will increase.
"The country's economy is expected to grow in 2022 and 2023, as higher prices for hydrocarbons will contribute to this," the ADB said.