BAKU, Azerbaijan, April 8. Fitch Ratings forecast Turkmenistan’s average annual inflation rate in 2022 at 18 percent, Trend reports via the agency.
According to Fitch Ratings, the current index increased by 9.5 percentage points compared to the previous forecast that envisaged Turkmenistan’s inflation rate in the current year at 8.5 percent.
Furthermore, price controls on key products have been introduced or extended in a number of sovereigns, which will have a fiscal cost.
"Turkmenistan currently exports all gas under long-term contracts with a lag in the pricing structure, meaning that much of the price impact will be felt in 2023," Fitch Ratings said.