BAKU, Azerbaijan, September 24. Turkmenistan
expects its GDP growth to reach 6.3% by the end of this year,
President Serdar Berdimuhamedov said at a meeting of the Halk
Maslahaty.
This was reflected in a press release issued by the press
service of the Turkmen government.
Berdimuhamedov said the forecast is supported by increased
production across the country's economic sectors.
“The rate of GDP growth remains at the set level as a result of
increased production across the sectors of the economy. It is
expected that this macroeconomic indicator will reach 6.3 percent
by the end of the current year,” Serdar Berdimuhamedov said.
The president said Turkmenistan's economic development is being
pursued under its national socioeconomic development programs,
including the National Program for Socioeconomic Development for
2022-2052.
He also highlighted measures to strengthen social protection,
improve living conditions and develop new settlements with modern
social infrastructure.
According to the president, the government is also taking
measures to support and improve entrepreneurial activity.
He said economic stability is being supported through a
combination of credit, tax and price instruments, while reforms to
introduce digital technologies into the banking system and improve
the national payment system are continuing.
The president added that the government's priorities include
further modernization of the national economy and improving living
standards.
For reference, The Halk Maslahaty of Turkmenistan is the
country's highest representative body. Following the 2023
restructuring of the political system, it operates separately from
the Mejlis and is chaired by Gurbanguly Berdimuhamedov. The body
brings together representatives of central and local authorities,
public organizations and other groups. Its meetings have been used
to discuss major state policy and economic priorities.
Economic issues have featured prominently in previous meetings.
At the November 2022 meeting devoted to the draft 2023 State
Budget, the Halk Maslahaty discussed the country's investment
policy, financial market and currency stability. Proposals included
measures to increase budget revenues through privatization, the
development of the securities market, the transformation of state
enterprises into joint-stock companies and support for
export-oriented manufacturing. The meeting also addressed financing
for industrial enterprises, agriculture and entrepreneurs, as well
as the development of import-substituting production.
At the September 2024 meeting, the economic agenda included the
allocation of state budget funds and the country's investment
priorities. President Serdar Berdimuhamedov said 67.8% of
investments allocated for construction were directed to production
facilities and 32.2% to social facilities. The meeting also covered
the development of education, healthcare, culture and
infrastructure, alongside measures related to the banking sector
and the national currency.
The 2024 meeting also continued the practice of linking the
body's agenda to annual socioeconomic and investment programs.
Earlier that year, its Presidium had considered the implementation
of the 2024 socioeconomic development and investment program, with
these issues subsequently forming part of preparations for the
September session.
