BAKU, Azerbaijan, September 24. Turkmenistan expects its GDP growth to reach 6.3% by the end of this year, President Serdar Berdimuhamedov said at a meeting of the Halk Maslahaty.
This was reflected in a press release issued by the press service of the Turkmen government.
Berdimuhamedov said the forecast is supported by increased production across the country's economic sectors.
“The rate of GDP growth remains at the set level as a result of increased production across the sectors of the economy. It is expected that this macroeconomic indicator will reach 6.3 percent by the end of the current year,” Serdar Berdimuhamedov said.
The president said Turkmenistan's economic development is being pursued under its national socioeconomic development programs, including the National Program for Socioeconomic Development for 2022-2052.
He also highlighted measures to strengthen social protection, improve living conditions and develop new settlements with modern social infrastructure.
According to the president, the government is also taking measures to support and improve entrepreneurial activity.
He said economic stability is being supported through a combination of credit, tax and price instruments, while reforms to introduce digital technologies into the banking system and improve the national payment system are continuing.
The president added that the government's priorities include further modernization of the national economy and improving living standards.
For reference, The Halk Maslahaty of Turkmenistan is the country's highest representative body. Following the 2023 restructuring of the political system, it operates separately from the Mejlis and is chaired by Gurbanguly Berdimuhamedov. The body brings together representatives of central and local authorities, public organizations and other groups. Its meetings have been used to discuss major state policy and economic priorities.
Economic issues have featured prominently in previous meetings. At the November 2022 meeting devoted to the draft 2023 State Budget, the Halk Maslahaty discussed the country's investment policy, financial market and currency stability. Proposals included measures to increase budget revenues through privatization, the development of the securities market, the transformation of state enterprises into joint-stock companies and support for export-oriented manufacturing. The meeting also addressed financing for industrial enterprises, agriculture and entrepreneurs, as well as the development of import-substituting production.
At the September 2024 meeting, the economic agenda included the allocation of state budget funds and the country's investment priorities. President Serdar Berdimuhamedov said 67.8% of investments allocated for construction were directed to production facilities and 32.2% to social facilities. The meeting also covered the development of education, healthcare, culture and infrastructure, alongside measures related to the banking sector and the national currency.
The 2024 meeting also continued the practice of linking the body's agenda to annual socioeconomic and investment programs. Earlier that year, its Presidium had considered the implementation of the 2024 socioeconomic development and investment program, with these issues subsequently forming part of preparations for the September session.
