BAKU, Azerbaijan, September 21. The Asian Development Bank (ADB) has published an updated forecast for Turkmenistan's GDP growth rate, Trend reports citing the ADB's September report.
According to the ADB's forecast, Turkmenistan's GDP growth in 2022 will be 5.8 percent and 5.8 percent the following year.
Meanwhile, in its April report, the ADB predicted Turkmenistan's GDP growth at the level of 6 percent in 2022 and 5.8 percent in 2023.
The ADB said supply side growth in Turkmenistan came from all sectors, with the large hydrocarbon economy expanding mainly from higher production and exports of natural gas, and the non-hydrocarbon benefiting from partial lifting of restrictions on external trade and travel.
"Besides increased hydrocarbon output, growth in industry reflected higher output of electricity, chemicals, textiles, food processing, and other agroindustrial products, as well as stepped-up construction,” the report said.