BAKU, Azerbaijan, September 24. Turkmenistan plans to invest more than 41.2 billion manats ($11.8 billion) in the country's development by the end of 2026, President Serdar Berdimuhamedov said.
This was reflected in a press release published by the press service of the Turkmen government citing the president’s speech at a meeting of the country’s Halk Maslahaty.
According to the report, the investments will be made under the country's 2026 socioeconomic development and investment program.
“The volume of capital investments to be disbursed by the end of the year for the country’s development under the “Program for the Socio-Economic Development and Investment of Turkmenistan for 2026” will exceed 41.2 billion manats, which will create the conditions for the construction and modernization of industrial and social infrastructure facilities,” Serdar Berdimuhamedov said.
He outlined the investment policy is a key factor in the dynamic development of the national economy and that ongoing projects are strengthening the country's economic potential.
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.
