Turkmenistan’s gross domestic product (GDP) increased by 6.3% in 2024, according to Deputy Chairman of the Cabinet of Ministers for Economic and Financial Affairs Hojamyrat Geldimyradov. He shared this information during an expanded government meeting on Friday, as reported by the official media of Turkmenistan.
Among key industries, construction saw the highest growth at 11%, followed by trade at 10.1% and the transport and communications sector at 7.2%. The production of goods and services rose by an average of 12.1% compared to 2023. Retail trade volume expanded by 13.1%, while average wages at large and medium-sized enterprises increased by 10.6%.
In 2024, the government fully met its investment targets across all financing sources, marking a 9.1% increase from 2023. President of Turkmenistan Serdar Berdimuhamedov signed a resolution approving the Program for Socio-Economic Development and Investments for 2025.
Under this new program, the government aims to maintain GDP growth at 6.3% in 2025, ensure stable sectoral and regional development, and maximize production capacity. The construction of new enterprises will create more than 3,000 jobs, and foreign trade turnover is expected to reach $20 billion.
One of the main priorities includes the development of small and medium-sized businesses, with plans to increase the private sector’s share of GDP to 71.6%. To improve living standards, the program also calls for a 10% increase in salaries, pensions, state benefits, and student scholarships.
The government plans to allocate 40 billion manats in investments from all financing sources to support economic growth in 2025.
During the meeting, officials reviewed economic sector performance for 2024, listened to reports from deputy prime ministers and ministry heads, and discussed key socio-economic development goals and personnel matters.
