On August 30, during a government meeting, Deputy Chairman of the Turkmenistan's Cabinet of Ministers H. Geldimyradov reported on the macroeconomic indicators achieved between January and July 2024.
As a result of comprehensive measures taken during the first seven months of the year, Turkmenistan's GDP growth was sustained at 6.3%. The industrial sector saw growth of 3.6%, construction reached 9.3%, the transport and communications sector increased by 7.1%, while trade and agriculture both saw growth of 7.8%. The services sector experienced a 7% increase.
Compared to the same period last year, total production output for January-July 2024 increased by 11.5%. Positive performance was observed across various sectors of the economy.
Retail trade volume for the seven months was 11% higher than the corresponding period in 2023.
For the January-July period, state budget revenues were executed at 102.9%, while expenditures were met at 97.8%.
Salaries at large and medium-sized enterprises increased by 10.5% compared to the same period in 2023. Wages, pensions, state benefits, and student stipends were fully and timely financed.
Capital investments from all funding sources increased by 12.1% compared to the same period last year.
After hearing the report, President Serdar Berdimuhamedov identified the maintenance of stable macroeconomic indicators as a top priority. He emphasized the importance of ensuring high GDP growth rates and tasked the Deputy Prime Minister with closely monitoring the modernization of existing industries and the establishment of new ones.
