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GDP growth rate of Turkmenistan in January-October amounted to 6.2%

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10 November 2021

In January-October of this year, the GDP growth rate of Turkmenistan amounted to 6.2%.  This was announced by Vice-Chairman of the Cabinet of Ministers of the country Serdar Berdimuhamedov at a government meeting last Friday.  The Vice-Chairman also noted that the volume of products manufactured for ten months of this year increased by 6.1% compared to the same period in 2020.  The volume of retail trade in comparison with the same period last year increased by 16.5%, while the indicators of foreign trade turnover increased by 14.6%.  In January-October, the revenue side of the state budget of the country was executed at the level of 108.3%, and the expenditure side – by 96.1%.  According to the results of ten months of this year, wages at large and medium-sized enterprises increased by 10.5% compared to the corresponding period last year, the Vice-Chairman said.  He also added that in January-October this year, the volume of utilized investments from all sources of financing amounted to 22.7 billion manats.  Having listened to the report, President Gurbanguly Berdimuhamedov noted the need to continue monitoring the state of the national economy, as well as to analyze the expected indicators of the country's socio-economic development based on the current situation.  The head of state instructed Vice-Chairman S. Berdimuhamedov to hold a meeting with employees of the construction and oil and gas complexes.  The President also emphasized the importance of taking measures to increase budget revenues.  Emphasizing the need to continue the search for additional sources of funding for the adopted programs, the head of Turkmenistan ordered to intensify work to attract investments and keep under constant control the volume of government spending and their effectiveness.
 Among the top-priority tasks, the President identified the preparation, together with all deputy prime ministers, of the country's economic development program for the coming 2022, which should be based on reliable investments.  - Each ministry and sectoral department should have a specific work plan for 2022, - the leader of the country emphasized, ordering to pay special attention to the construction program.
 Focusing on the tasks for the remaining period of this year, Gurbanguly Berdimuhamedov noted that it is necessary to significantly accelerate the implementation of state programs for the production of import-substituting products and increase the output of export-oriented goods, continue work on diversified development of the economy, expand the range of products and routes of their supply for  frontier.