Turkmenistan: GDP grows 6.5 percent in January–November

ASHGABAT (TCA) — In January-November 2017, the GDP growth in Turkmenistan made up 6.5 percent. It was said at the Turkmen Government meeting on December 8 reviewing the country’s economic development results for eleven months of the year, the State News Agency of Turkmenistan reported.

During the period, the GDP increased by 5.8 percent in the industrial sector, 1.4 percent in construction, 10.9 percent in transport and communication sector, 9.6 percent in trade, 5.1 percent in agriculture, and 8.9 percent in the services sphere.

As compared with the same period in 2016, the growth in the production sector achieved 6.4 percent.

In January-November, the volume of retail trade grew 18 percent as compared with the same period in 2016. The prices for consumer goods, as well as the tariffs for services rendered to the population, increased by 9.4 percent compared to December 2016.

Almost 79 percent of state-budget funds were allocated for the development of the social sphere during the period. The average monthly wage for large and medium-sized enterprises in the country was 8.9 percent higher compared to the same period of 2016.

It was said at the meeting that Turkmenistan’s natural and associated gas production in January-November grew 3.4 percent and the export of natural gas grew 3.7 percent.

President of Turkmenistan Gurbanguly Berdymukhamedov, who chaired the Government meeting, highlighted the necessity to activate the work on attraction of investments for further development of the fuel and energy sector.

Sergey Kwan

TCA

Sergey Kwan has worked for The Times of Central Asia as a journalist, translator and editor since its foundation in March 1999. Prior to this, from 1996-1997, he worked as a translator at The Kyrgyzstan Chronicle, and from 1997-1999, as a translator at The Central Asian Post.
divider
Kwan studied at the Bishkek Polytechnic Institute from 1990-1994, before completing his training in print journalism in Denmark.

View more articles fromTCA