ASHGABAT, Turkmenistan, November 25. The European Bank for Reconstruction and Development (EBRD) forecasts an increase in the economy of Turkmenistan by 6.5 percent in 2023 and by 7 percent in 2024 due to a strong fiscal policy, Trend reports.
According to the EBRD report, the increase in capital investments gives a powerful impetus to the economic growth of Turkmenistan.
The Bank emphasizes that in the first half of 2023, investments in fixed assets in Turkmenistan increased by 24.6 percent (reaching about 16 percent of the country's GDP), while almost 50 percent was directed to the manufacturing industry.
Designed as an intelligent and environmentally friendly new administrative center of the Ahal region of Turkmenistan, the city of Arkadag is an additional investment in the country's economy, the bank notes.
Furthermore, the report says that Turkmenistan's participation in the development of international transport corridors (such as North-South, West-East) can stimulate further significant investments in infrastructure and related logistics activities.
Meanwhile, Turkmenistan is actively making systematic efforts to develop its economy, introducing a wide range of measures aimed at stimulating growth and diversification of industries.
The country is striving to modernize its infrastructure, including transport and energy systems, in order to increase their efficiency and attractiveness to investors.