Turkmenistan's Economy Showed Sustainable Growth in the First Quarter of the Year
At the regular meeting of the Cabinet of Ministers chaired by President of Turkmenistan Serdar Berdimuhamedov via a digital system, the macroeconomic results of the first three months of the year were summarized. According to the report, the country's Gross Domestic Product (GDP) increased by 6.3 percent.
The report presented by Vice-Premier H. Geldimyradov during the government meeting shows that positive dynamics are maintained in almost all sectors of the national economy. During the reporting period, total production increased by 10.4 percent compared to the same period last year. This indicator is evidence of the effective implementation of the strategy for industrialization and increasing production capacities in the country.
Growth rates by sectors were as follows:
- Transport and Communications: 10.3%
- Trade and Services: 8.3%
- Construction: 6%
- Industry and Agriculture: 2.4%
In addition, retail trade turnover in the domestic market increased by 10.4 percent, while foreign trade turnover rose by 3.7 percent. The over-fulfillment of the state budget revenue plan (102.3%) made it possible to maintain the stability of the economy's financial foundation.
Having heard the report, the Head of State emphasized the need to preserve the stability of the achieved indicators and to use budget funds economically. Furthermore, the timely financing of wages at enterprises, pensions, and other social payments remains a priority direction of state policy.
