Arzuw NEWS - Turkmenistan news

Turkmenistan's GDP growth is projected at 5.8%

Despite the difficult situation in the global economy, Turkmenistan's GDP growth by the end of 2020 is projected to be in the range of 5.8%. This was reported by Deputy Prime Minister G. Mushshikov at a regular government meeting held online by President Gurbanguly Berdymukhamedov.

At the end of this year, the share of the agricultural sector is expected to be 11.4%, industrial - 27.1%, services - 22.6%. As for trade, transport and communications and construction, it is expected 19.3%, 11% and 8.6%, respectively.

The Deputy Prime Minister noted that the difficulties in the global economy will also affect the sphere of investment. Thus, the volume of funds invested in the development of the national economy of Turkmenistan is projected at 19.4% relative to GDP. At the same time, all existing sources of funding were taken into account.

G.Mushshikov reported to the head of the state on the development of preparatory drafts of key financial documents for the coming year - the State Budget of the country, the Investment Program and the Key vectors of growth of the socio-economic sphere. When drafting them, the actual economic strategy was taken into account, as well as the main provisions of the Program of Social and Economic Development approved for 2019-2025.

It was also noted that due to the difficult situation in the global economy, a number of adjustments were made to the indicators for 2021 approved by the Presidential program. The head of state pointed out that according to forecasts of financial and economic experts, the coming year will be no less difficult economically than the current one. Therefore a responsible approach to the preparation of the forecast indicators of the State Budget-2021 is required.

The Turkmen leader emphasized that first of all it is necessary to take care of the social sphere and do everything necessary to build houses for the least protected layers of the population at the same rate as before.


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