IMF sharply raised windfall estimate for oil-exporting countries in 2022
17:45 28.04.2022 11513
The International Monetary Fund (IMF) has sharply raised its estimate of the windfall that oil-exporting countries in the Middle East and Central Asia will receive in 2022. This is stated in the regional forecast of the IMF, published on Wednesday.
As fund experts expect, this year windfall from higher oil prices, GDP in the region will reach 818 billion US dollars. This is 320 billion more than the IMF estimated in October last year.
In this regard, the IMF is calling on the countries of the region to adopt «vigilant» policies that will make their economies less dependent on boom and bust in energy prices.
The IMF expects the bonanza will «improve the fiscal and external balance» in the region, which includes a total of 13 exporters from the United Arab Emirates to Turkmenistan.
Oil is forecast to average $106.83 per barrel in 2022 and $92.63 in 2023.
The fund estimates that official reserves in the region will be $1.3 trillion in 2022, up $235 billion from October forecast.
- The oil «reward» is «an opportunity to deepen financial markets, as well as stimulate additional direct investment in the economy,» Jihad Azur, IMF regional director, said at a press conference.
In his opinion, this will help «accelerate diversification, create growth that will gradually become less dependent on oil.»
Pakistani leaders are interested in implementing joint energy projects with Turkmenistan
The President and Prime Minister of Pakistan in their letters to the President of Turkmenistan Serdar Berdimuhamedov expressed their interest in promoting joint energy projects in South and Central Asia.
The President of Turkmenistan signed the Resolution to ensure the uninterrupted operation of the Korpeje gas compressor station
On November 15, President Serdar Berdimuhamedov held a regular meeting of the Cabinet of Ministers via a digital system, where key tasks of the country's socio-economic development were discussed, drafts of a number of documents were reviewed, as well as some other issues.
The President of Turkmenistan and the head of CNPC discussed the prospects for cooperation in the gas sector
Prospects for cooperation in the gas industry were discussed on Monday at a meeting between President of Turkmenistan Serdar Berdimuhamedov and member of the board, President of China National Petroleum Corporation (CNPC) Hou Qijun, the State News Agency of Turkmenistan reports.
Nayip complex for the production of liquefied gas: ahead of the plan
Over the past five months of this year, the Department for the production of liquefied gas «Lebap» of the State Concern «Turkmengas» produced more than 47.3 thousand tons of liquefied gas, while the implementation of the plan was 105.8%. More than 46.4 thousand tons of marketable products were sent for export.
The President of Turkmenistan has sent the draft State Budget of the country for 2025 to the Mejlis for consideration
The President of Turkmenistan Serdar Berdimuhamedov has sent the draft State Budget of the country for 2025 to the Mejlis. Vice-Chairman of the Cabinet of Ministers Hojamyrat Geldimyradov reported to the President on the preparation of the draft State Budget of Turkmenistan for next year at a government meeting held via video link on November 15.