The growth rate of GDP of Turkmenistan for ten months of 2020 increased by 5.8%. This was announced on Thursday at the government meeting, which reviewed the results of the country's economic development in January-October this year.

Compared to the same period in 2019, the volume of products manufactured in January-October of this year increased by 4.1%. During this period, the volume of retail turnover in comparison with the same period last year increased by 18.9%.

The revenue side of the state budget of the country for January-October was executed at the level of 109.2%, and the expenditure side - by 87.4%. At the end of ten months of this year, wages in large and medium-sized enterprises increased by 10.3% compared to the same period in 2019.

The volume of utilized investments at the expense of all sources of financing has reached 25 billion manats.

President Gurbanguly Berdimuhamedov, summarizing the results of ten months of this year, noted that, as before, high rates of development remain in the domestic economy. within the framework of certain assignments, practically in all sectors of the national economy, the volume of production increased, the size of wages, pensions and state benefits increased. Numerous industrial and social facilities were commissioned.

The current situation requires us, while supporting harmonious economic development, to take immediate measures to revitalize it, and, despite the changes in the global economy, to ensure the fulfillment of the tasks set, the head of state said. Our goal is to maintain the achieved growth rates and increase them in the next year.

Among the priority areas of the upcoming work, the President named preparation, together with all deputy prime ministers, of the country's economic development program for 2021, which should be based on reliable investments. The head of state ordered to complete the development of the document in the near future.

Gurbanguly Berdimuhamedov also instructed to submit for approval within a month the Strategy for the Management and Transformation of State-Owned Enterprises in 2020-2025 and, together with the Mejlis of Turkmenistan, to bring the legislative acts regulating privatization in line with modern realities.