BAKU, Azerbaijan, November 25. The European Bank for Reconstruction and Development (EBRD) predicts the growth of Turkmenistan's economy in 2022-2023, Trend reports via the latest Transition Report from the EBRD.
According to the bank's report, Turkmenistan is likely to continue to benefit from elevated gas prices and the country's “neutral” stance in 2022 and 2023. Overall, the country's economy is forecast to expand by 7 percent in 2022 and 6 percent in 2023.
It was noted that in the first half of 2022 the government budget of Turkmenistan recorded a surplus of 0.1 percent of GDP. Government revenues had been officially reported at 103.6 percent of the target from January through July 2022.
“In August 2022, Fitch affirmed Turkmenistan’s “B+” rating with a “Stable” outlook, citing the strong fiscal position. According to the International Monetary Fund, public debt was just 11.1 percent of GDP in 2021 and is expected to decline further to 8.4 percent of GDP in 2022,” the bank's report says.