National Economy Maintains Stable Growth Rate

National Economy Maintains Stable Growth Rate
The volume of concessional loans issued to support private business is 14.8 percent higher compared with the same period in 2018. 

At the expanded meeting of the Cabinet of Ministers of Turkmenistan on Friday, Minister of Finance and Economy Batyr Bazarov said that all sectors of the national economy maintained stable growth rate in January-June period.

In the first half of this year, the implementation of the revenue part of the state budget reached 103.5 percent, and the expenditure part amounted to 84.9 percent.

During the reporting period, the volume of investments with all sources of funding amounted to 16 billion manats or 26.6 percent in relation to GDP. The investment program for 2019 was fulfilled at the level of 41.5 percent.

The President stressed that the strategic goal of the state policy is the accelerated transition to the digital economy. One of the priorities of the Ministry is the strict control over the timely implementation of activities outlined in the Concept of the development of the digital economy in Turkmenistan in 2019-2025. The Head of State said that the work in this direction is not carried out at the proper level yet and requires more effective steps to be taken to achieve the set targets. The President addressed specific instructions to the minister.

The Chairman of the Central Bank Merdan Annadurdiyev reported on the work carried out by credit institutions in January-June period, and provided information about the implementation of the plan to receive foreign currency to the accounts of ministries and sectoral departments for the export of goods and the provision of services.

In the first half of 2019, the volume of loans directed by the country's banks for the development of the economy increased by 9.9 percent. The volume of loans issued to the non-state sector increased by 26.1 percent.

The volume of concessional loans issued to support private business is 14.8 percent higher compared with the same period in 2018. The number of funded projects reached 1,695.

President Gurbanguly Berdimuhamedov noted the reduction in the inflow of foreign currency to the accounts of the ministries and sectoral departments supervised by Deputy Prime Ministers Charymyrat Purchekov and Mammetkhan Chakiyev, and the improper performance of the relevant plans by the institutions supervised by Minister of Energy Myrat Artykov, and head of Turkmenistan Airlines Dovran Saburov. The Head of State ordered to take necessary measures to solve the tasks and stressed that executives must take a responsible approach to the execution of instructions related to the foreign currency revenue.