Turkmenistan's GDP growth for eight months remains at the level of 6.2%


12 September 2022

The GDP growth of Turkmenistan for eight months of 2022 remains at the level of 6.2%. This was stated by President Serdar Berdimuhamedov at a government meeting held last Friday via digital system.

 As the head of state noted, the construction of large industrial and social facilities continues in the country. Among them are new settlements, residential buildings, health and recreation centers, schools, kindergartens and many other facilities.

 Serdar Berdimuhamedov emphasized that urgent measures should be taken to maintain stable GDP growth rates.

 The President also noted the need to prepare the State Budget and the Investment Program for 2023 on schedule, as well as to conduct an analysis in order to increase production capacity and profits in the oil and gas, chemical, textile and construction industries, addressing the Vice-Chairman with specific instructions.

 The head of state noted that it is necessary to effectively use the huge potential of industries and further diversify the economy, expand the range of domestically produced goods and their export directions.

 At the meeting of the government, information was also voiced that over the period under review, as a whole, the volume of manufactured products increased by 11.4% compared to the same period last year. Positive indicators have been achieved in all sectors of the economy. The volume of foreign trade turnover increased by 38.6% compared to the same period last year.

 Execution of the revenue part of the State budget for eight months amounted to 106.3%, expenditure – 97.5%. 80.9% of the State budget funds were directed to finance the social sphere.

 For large and medium-sized enterprises, the average monthly salary increased by 10.4% compared to the same period last year. Wages, pensions, state benefits and student scholarships have been financed in a timely manner.

 Compared to the same period in 2021, the volume of investments disbursed from all sources of financing increased by 7.5%.