According to the results of the first quarter of 2023, the GDP growth rate of Turkmenistan is at the level of 6.2%.  This was stated by President Serdar Berdimuhamedov at a government meeting held last Saturday in a digital system.

 The President also noted that the country continues the construction of large industrial and social facilities, including new settlements, residential buildings, recreation and health centers, schools, kindergartens and other facilities.

 “Oil and gas fields are being developed, power transmission and communication lines are being built along the Turkmenistan-Afghanistan-Pakistan route, the Turkmenistan-Afghanistan-Pakistan-India gas pipeline, and preparations are underway for the implementation of other international projects,” the head of state continued.

 Among the urgent tasks, the President of Turkmenistan called the continuation of the creation of import-substituting industries and increasing exports of local products to foreign countries, as well as attracting investments and increasing the volume of foreign exchange earnings.

 Serdar Berdimuhamedov focused on the need to keep the execution of the State budget under strict control and ordered to take the necessary measures to increase the share of the private sector and its active participation in the country’s economy.

 During the government meeting, information was also voiced that the comprehensive measures taken over the three months of 2023, aimed at maintaining the stable development of all sectors of the economy and regions, contributed to maintaining a sustainable GDP growth rate.

 In January-March of this year, in general, the volume of manufactured products increased by 6% compared to the same period in 2022.  The indicator of retail trade turnover increased by 9.5% compared to the corresponding period of 2022, and foreign trade turnover – by 8.4%.

 Wages for large and medium-sized enterprises increased by 9.8% compared to the same period in 2022, wages, pensions, state benefits and student scholarships were fully funded.

 It was also reported that in the first quarter of this year, the volume of capital investments aimed at developing the national economy from all sources of financing, in relation to GDP, amounted to 13.7%.  The investment program for 2023 for January-March was executed at the level of 10.7%.  According to the results of the first quarter, 44.8% of disbursed capital investments were directed to the construction of industrial complexes, and 55.2% - to the construction of social and cultural facilities.