Turkmenistan records stable GDP growth
Turkmenistan's GDP growth has hit 10 percent since early 2015, the Turkmen Economy and Development Ministry reported.
The volume of investments aimed at the development of various sectors of the national economy increased by 5.2 percent compared to the same period of last year. The salary rate growth was 10 percent.
The share of industry in GDP increased by 10.2 percent compared to the corresponding period of last year, the statement said.
The construction industry growth reached 11.1 percent. The trade, transport, communication, services are intensively developed.
"More than 2,000 major projects worth over $ 50 billion are being constructed in the country," the statement said.
During the reporting period, the retail trade increased by 16.9 percent compared to the same period of 2014.
The volume of used investments through all sources of funding increased during the reporting period compared to the same period of last year. The ratio of this index to GDP was 36.5 percent.
The ratio of this index to GDP was ensured at the level of 36.2 percent, a statement says.
Turkmenistan ranks fourth in the world’s natural gas reserves. At present, it exports gas to China, Iran and Russia, according to a British Petroleum (BP) report.
Ashgabat chose a course to diversify the local economy. The textile industry, as well as the area of petroleum products, advanced. The oil, gas and chemical industry and the production of building materials are being actively developed.
Follow us on Twitter @AzerNewsAz