Turkmenistan’s GDP growth to exceed 11 pct
By Aynur Jafarova
Turkmenistan was able to strongly maintain its GDP growth rate at an average of over 10 percent in the last 2 years.
This was noted in the report of chief of the mission of the International Monetary Fund (IMF) Bjorn Rother in Ashgabat, who was taking part in a conference on monetary reforms, competitiveness and the economic growth issues.
The IMF representative referred to the fund's data, published in the Review of World Economics collection of statistical data.
"It is noteworthy that this figure is the highest among the countries presented in the review of the IMF," local media reported.
This macroeconomic indicator is expected to reach 11.5 percent in 2015.
Turkmenistan's GDP grew by 10.3 percent in January-September 2014.
Earlier, an analytical report prepared by Euromonitor International said Turkmenistan is the leader in the list of top 5 countries in the world for fastest growth in annual disposable income in 2014.
"We expect Turkmenistan to lead the world with the fastest annual growth in real disposable income in 2014, both on a total basis (at 14.7 percent year-on-year) and on a per household basis (at 12.8 percent year-on-year)," the report said.
The main factor behind Turkmenistan's leadership in the world for fastest disposable income growth is robust economic growth driven by high public investment, strong performance in all production sectors and rising gas exports to China.
Since early 2014 the country's foreign trade turnover has exceeded $21 billion. Also, Turkmenistan remains the largest exporter of natural gas in Central Asia. The country plans to achieve the most intensive growth rates in the chemical, textile, food industries, production of construction materials, agriculture.
The volume of investments attracted to Turkmenistan in the first 11 months of 2013 exceeded $41 billion, and this figure was 7.2 percent more compared to the same period of 2012.
The GDP growth rate amounted to 10.1 percent. Foreign trade turnover also increased and amounted to $28.4 billion.