• KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01122 0%
  • KZT/USD = 0.00223 0%
  • TJS/USD = 0.09145 0.22%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 722

ADB Forecasts Faltering Economic Growth

The People's Republic of China (PRC) will remain the engine of growth for the world economy, even despite some slowdown. That forecast has been made by the Asian Development Bank (ADB) specialists in their report, Asian Development Outlook. Inflation is expected to decline in 2024 and 2025 after the increase in food prices in many countries over the past two years - and developing economies in the Asia-Pacific region will grow by an average of 4.9%, according to the ADB. Experts predict the highest economic growth for India: where the economy will grow by 7% this year and 7.2% next year. As for China, experts are more reserved in their forecasts: China's growth will slow to 4.8% this year and 4.5% next year. "Obviously, China will play an important role for some time to come. It still accounts for almost half of the GDP [gross domestic product] in the Asia-Pacific region," said ADB chief economist ,Albert Park. At the same time, economists also warned of possible risks: supply chain disruptions, uncertainty over U.S. monetary policy, the effects of extreme weather, and volatility in the PRC's real estate market. Inflation in developing Asia-Pacific economies is expected to fall to 3.2% this year and 3% next year as global price pressures ease and monetary policy remains tight in many countries. However, inflation in the region, with the exception of China, is still higher than before the COVID-19 pandemic. According to the bank's forecasts, economic growth in Uzbekistan will slow this year and grow slightly next year. This is because higher state-regulated prices will limit the growth of real household incomes, thus reducing demand. Economists expect a lower growth in services and agriculture. Lower remittances, fiscal space constraints, and lower global demand for Tajikistan's main exports will cause Tajikistan's economic growth to slow slightly in 2024 and 2025, the ADB said. "Tajikistan faces serious climate challenges and risks that could lead to irreversible economic, social, and environmental damage," said the ADB 's resident representative in Tajikistan, Shanny Campbell. The ADB says developing a green economy is key to the country's sustainable growth. As for its nearest neighbor, Kazakhstan, the ADB has lowered its GDP growth forecast for 2024 to 3.8%, down from 4.3% in the previous review. In 2025, the figure is expected to be 5.3%. Actual GDP growth at the end of 2023 was at 5.1%. "The growth rate of Kazakhstan's economy in 2024 will decrease against the background of slowdown in industrial growth due to stagnation in oil production and then recover in 2025 due to the growth of resource extraction at the Tengiz field and investments. Prospects for Kazakhstan's economic growth in the medium term look positive," ADB analysts said. As for developed economies globally, their growth will slow down this year: GDP growth in the U.S. will fall to 1.9% from last year's 2.5%, and in Japan, GDP will grow by 0.6% compared to 1.9% in 2023.

People in Turkmenistan Losing Money Due to Bank Glitches

According to news portal Turkmen.news, clients of a number of banks in Turkmenistan are inexplicably losing money from their accounts due to technical problems. On April 8-9, Dayhanbank customers discovered deficits of several hundred manat in their accounts. The amounts ranged from about 150 ($88.24) to 800 manat ($470.59). and in some cases their accounts were left in the red. When customers complained to the bank, they said it was a technical glitch and everything would be back to normal by the evening. In most cases, the amounts withdrawn was refunded to the customer’s account later that same day. According to the report, only by obtaining a bank statement and carefully checking all expenses would one be able to identify the discrepancy.

Turkmenistan Using Almost All Available Water Resources With No Additions in Sight

Meteojournal has reported that Turkmenistan's State Statistics Committee has published a voluntary national review of its progress in implementing the global agenda for sustainable development until 2023 on its website. According to MeteoJournal, in 2021, almost all water resources in the country – 92% – went to agricultural needs. Another 5% was used by industry, and only 3% went to household needs. At the same time, Turkmenistan used almost all available fresh water resources, and due to increasing consumption, the country has no additional water sources. In 2016, the utilization rate of water resources reached 97.5%; in 2018, it had dropped to 89.9%, then in 2020 it reached 85.2%, and in 2021 -- 87.1 percent. Meteojournal stated that the increase in demand for fresh water can be met only through its rational use. According to the review, 95% of the population has access to clean and safe water, whilst 99.9% of the population uses water supply services organized in compliance with safety requirements. The share of safely treated wastewater in 2022 was 57.4%. Meteojournal, which familiarized itself with the review, noted that Turkmenistan - which possesses huge potential for using renewable energy sources such as solar and wind energy - is currently not harnessing its potential. The review mentioned the construction of a 10-megawatt (MW) hybrid power plant using solar and wind energy in Kyzil-Arvat. The project was planned to be completed in January 2024, but has yet to open, and local media haven't reported any updates on the pace and status of the work.

Turkmenistan Stops Selling Tickets to Russia for Migrant Laborers

In a number of regions of Turkmenistan, the sale of air tickets to citizens who have received an official offer to work in Russia has been suspended, according to news portal Turkmen.news. The halting of ticket sales is related to the terrorist attack on the Crocus City Hall near Moscow on March 22 of this year. Following the attack on March 22, the departure of labor migrants from Turkmenistan to Russia suddenly stopped. Those who have received invitations to work and applied for visas have learned that they cannot purchase tickets for the time being. Recently, twelve undocumented workers from Turkmenistan, who worked in one of the markets in Domodedovo near Moscow, were arrested. Four were released after being fined, and eight were transferred to a special detention center in the city of Yegoryevsk, Moscow region, for deportation. According to Chronicles Turkmenistan, there are 47 citizens of Turkmenistan being held at a pre-trial detention center in Vidnoye who are awaiting deportation. The Ministry of Foreign Affairs of Turkmenistan and the Russian Government has begun discussing the possibility of suspending the issuance of visas for Turkmens for at least one and a half years. An exception will be made only for diplomats and representatives of large businesses, according to a report.

Turkmenistan’s GDP Expands by 6.3% in First Quarter of 2024

In the first quarter of 2024, Turkmenistan demonstrated stable economic growth, President Serdar Berdimuhamedov said at a meeting of the Cabinet of Ministers, where the results of the first three months of this year were summarized. Berdimuhamedov stated that positive dynamics are evident in the key economic indicators. Specifically, industrial production increased by 4.7 %, the transport and communication sector by 6.6%, the service sector by 7.6%, the trade sector by 8.2%, and the agricultural sector by 4.1%. The country's average salary also rose by 10% in the first quarter. In addition to the country’s economic growth, the president observed that the country is rapidly developing its large industrial and social infrastructure, which includes new villages, residential buildings, entertainment and medical facilities, and supporting families with new schools and kindergartens. These initiatives are being carried out in accordance with Turkmenistan's 2022–2028 socioeconomic development strategic program.

Turkmenistan Poised to Supply Energy Resources to Tajikistan

Energy-rich Turkmenistan is now ready to increase its supply of oil products, as well as electricity and natural gas to Tajikistan through the territory of Uzbekistan. The announcement was made by Gurbanguly Berdimuhamedov, chairman of Turkmenistan’s People’s Council, during negotiations with Tajikistan President Emomali Rahmon in Dushanbe on April 4th. With an emphasis on the need to increase bilateral trade, the meeting focused on the expansion of Tajik-Turkmen cooperation in oil and gas, chemistry, industry, and agriculture. Berdimuhamedov identified transport as a priority vector in the two countries’ partnership stating, “Today there is every opportunity to intensify cooperation to create a transport route from Tajikistan to Turkmenistan’s Caspian coast, with further access to Iran and on to the Persian Gulf and Turkey. This is the shortest route from China to Europe and the Middle East.” The two leaders also addressed environmental issues and in particular, strengthening the International Fund for Saving the Aral Sea (IFAS); a key structure aimed at ensuring cooperation in improving the environmental and socio-economic situation in the Aral Sea region.

Start typing to see posts you are looking for.