Arzuw NEWS - Turkmenistan news

The World Bank forecasts Turkmenistan's GDP to grow by 4% in 2021.

On June 8, the World Bank published its forecasts for the world economy in 2020 and 2021. The report predicts that Turkmenistan's GDP will remain the same in 2020. Calling Turkmenistan an exporter of energy and raw materials, the World Bank attributes the current situation to a decline in demand for manufactured goods around the world. At the same time, according to the organization's report, Turkmenistan's GDP is expected to grow by 4% in 2021.

According to the bank, total GDP for Central Asia will fall 1.7 percent in 2020, as a result of declines in various sectors of the economy due to the pandemic. According to the report, the region is projected to grow by 3.7% in 2021, due to a rebound in commodity prices, strengthened trade relations and increased market demand.

Note that according to this report, in 2020, the countries of Central Asia, with the exception of Turkmenistan and Uzbekistan, will have negative GDP growth. The World Bank estimates that Uzbekistan's GDP growth in 2020 will be 1.5%.

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