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ADB forecasts Turkmen GDP growth at 6.5 percent in 2010

Business Materials 19 April 2010 16:29 (UTC +04:00)

Turkmenistan, Ashgabat, April 19 / Trend H. Hasanov /.

According to the Asian Development Bank (ADB), Turkmenistan's GDP growth in 2010 is expected to hit 6.5 percent compared to 6.1 percent in 2009.

"Due to gas production and export returns, we expect a GDP increase of 11 percent in 2011," the ADB said.

"This will allow Turkmenistan to build an account balance surplus, which is currently 30 percent of the GDP," the bank said.

According to the ADB, positive changes in macroeconomic indicators are due to the fact that the global economic crisis had little impact on Turkmenistan, as the country's economy is insignificantly integrated into the world economy and is largely based on the natural gas export levels.

Turkmenistan supplies natural gas to Russia, Iran and China. In the future, it expects to open markets in Europe, Pakistan and India.

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