Turkmenistan’s GDP up since early 2016

Jun 04, 2016 12:00 AM

The growth rate of Turkmenistan's GDP exceeded 6 percent from January to May 2016, the country's President Gurbanguly Berdimuhamedov said during the meeting of the Cabinet of Ministers.

Berdimuhamedov said that currently, the growth of the global economy continues, however, this process is going on very slowly and as the experts say, it is subjected to risks, said the message from Turkmenistan's government June 4.

In this regard, the primary task is to increase the export volume of the products manufactured in the country, according to Turkmenistan's president.

The economic sectors which are not related to the fuel and energy complex, saw a 2.2 percent increase as compared to the same period in 2015, said Berdimuhamedov, adding that however, it is not enough.

The European Bank for Reconstruction of Development (EBRD) forecasts Turkmenistan's GDP growth to reach 6.5 percent and 7.1 percent in 2016 and 2017, respectively.

The EBRD experts noted that Turkmenistan's economic growth stood at 6.5 percent in 2015, as compared to 10.3 percent in 2014.

Turkmenistan ranks fourth in the world in terms of the volume of natural gas reserve, according to the BP report. Currently, the country is able to export gas to China and Iran.

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