Home
\
Economy
\
International Monetary Fund predicts high GDP growth in Turkmenistan
Economy
International Monetary Fund predicts high GDP growth in Turkmenistan
Published 12.04.2019
1725

On March 26 - April 9, the IMF mission, led by Natalia Tamirisa visited Ashgabat to assess the development of the macroeconomic and financial situation, discuss the priorities of the economic policy of Turkmenistan, as well as global economic challenges. In frames of the visit, the representatives of this largest structure held a number of meetings with senior officials of government administration bodies, the representatives of business circles, financial sector and diplomats, during which they were familiarized with the main results of the socio-economic reforms, taken place in the country. Upon the completion of the visit, the IMF mission published a press release, providing prediction estimates on some economic and financial positions of Turkmenistan in 2019. Thus, according to experts, the GDP growth in Turkmenistan will be high - 6.3% that is one of the highest rates in the world, and the highest among the neighboring countries in the Central Asian region. The Head of the IMF mission provided recommendations for the further economic development of the country, which are consonant with the programme objectives set by the President and consistently implemented in the state policy of Turkmenistan. Among them are, in particular, the acceleration of market reforms and strengthening of human capital, privatization of state-owned enterprises, improvement of the legal system, enhancement of the competitiveness of export products, diversification of the national economic complex and investment promotion. In these and many other relevant areas, President Gurbanguly Berdimuhamedov identified specific measures and mechanisms for achieving the goals, laid down in the basis of the Programme for the Socio-Economic Development of the country for 2019-2025. In particular, the Programme stipulates the tasks of the most complete utilization of all resources and opportunities for the stable growth of the national economy, development of the private sector, creation of joint-stock companies, strengthening the activities of stock exchanges and the security market. The President of Turkmenistan pays particular attention to the digitalization of the economy and strengthening human resources in this area, introducing electronic and intellectual systems to improve the efficiency of public administration and the quality of people’s life, reforming and modernizing agriculture through high technologies and attracting small- and medium-sized businesses. The state policy, pursued by the President of Turkmenistan, prioritizes the investment into the spheres of education and health care, strong support to such areas as culture and sports. Regular assessments and forecasts by IMF invariably confirm that Turkmenistan confidently continues its socio-economic development, consistently implementing large-scale plans. In the process of structural and qualitative transformations in the country, the national model of market economy is being formed and improved, which is actively integrated into the world division of labor, global trade and information links. The International Monetary Fund is a partner of Turkmenistan in conducting economic reforms. IMF provides technical assistance to support the ongoing macroeconomic reforms. The next visit of IMF is scheduled for October 2019.

Last news
10.04
The off-site meeting of the Cabinet of Ministers of Turkmenistan
10.04
The heads of the Turkmen-Chinese intergovernmental committee on cooperation and its subcommittees from the Turkmen side have been appointed
09.04
Meeting of Hero-Arkadag with the Head of the Turkmen-Austrian Society
08.04
The Latest Issue of «Arkadagly Ýaşlar» Magazine Has Been Published
08.04
President Serdar Berdimuhamedov took part in the solemn stone-laying ceremony of a new modern settlement
08.04
The visit of Hero-Arkadag to the Republic of Austria has begun
08.04
The President of Turkmenistan congratulated the elected President of the Socialist Republic of Vietnam
08.04
For the attention of the deputies of the Mejlis of Turkmenistan
07.04
President Serdar Berdimuhamedov took part in the mass bicycle race
07.04
Telephone Conversation between the Chairman of the Halk Maslahaty of Turkmenistan and the Chairperson of the Federation Council of the Federal Assembly of the Russian Federation
top-arrow