President: the economy of Turkmenistan is developing in accordance with the adopted programs

10:42 26.08.2020 2057

Despite the coronavirus pandemic and its negative impact on the global economy, the current state of the national economy indicates that our state continues to develop in accordance with the adopted programs, President Gurbanguly Berdimuhamedov said, summarizing the results of economic development of Turkmenistan for January-July 2020.

GDP growth for the reporting period amounted to 5.7%, the construction of large industrial and social facilities continues in the country, the head of Turkmenistan said.

Within the framework of the outlined plans, the reform of science and education systems, the modernization of production are continuing, a market economy is being formed, oil and gas fields are being developed, Berdimuhamedov continued.

The construction of electrical and communication systems Turkmenistan-Afghanistan-Pakistan, the Turkmenistan-Afghanistan-Pakistan-India gas pipeline is underway. The country is consistently implementing a policy of supporting entrepreneurs who are involved in participating in economic reforms, the Turkmen leader said.

Speaking about the tasks facing the government this year, the President noted that it is necessary to give an additional impetus to the implementation of import substitution programs and increase the production of export-oriented products, to effectively use all the reserves available in the sectors of the economy.

Reporting on the macroeconomic indicators for January-July at a government meeting last Friday, Vice-Chairman Gadyrgeldy Mushshikov noted that for seven months of this year, the GDP growth rate was provided at the level of 5.7%. Compared to the same period last year, production in general increased by 4.4%.

In January-July, the volume of retail turnover in comparison with the corresponding period of 2019 increased by 19.3%. Following the results of seven months, the revenue side of the State budget was executed at the level of 108.6%, the expenditure side - by 94.2%.

The average monthly salary for large and medium-sized enterprises in January-July 2020 increased by 10.5% compared to the same period last year. Wages, pensions, state benefits and student scholarships were financed on time, the Vice-Chairman said.

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