IMF Forecasts 6.3% GDP Growth for Turkmenistan

BUSINESS TURKMENISTAN
IMF Forecasts 6.3% GDP Growth for Turkmenistan
Turkmenistan became a member of the IMF on September 22, 1992.

International Monetary Fund (IMF) mission led by Natalia Tamirisa visited Ashgabat on November 5-12.

The goal of the mission was to assess recent macroeconomic and financial situation in Turkmenistan, and discuss economic and financial policy priorities with senior government officials, representatives of the business and financial sectors, and the diplomatic community.

During the negotiations, the officials analyzed the financial and economic situation of Turkmenistan, key areas of monetary policy, and reviewed reports. Based on them, the IMF officials made macroeconomic forecasts.

According to the IMF press release on November 14, Turkmenistan continues to pursue an investment-led growth strategy underpinned by import substitution and export promotion policies, directed concessional lending, and related broad exchange controls on international transactions and payments.

The IMF predicted Turkmenistan’s economy growth at 6.3% for 2019.

Turkmenistan became a member of the IMF on September 22, 1992. According to IMF forecasts, the growth of Turkmenistan's gross domestic product (GDP) in 2019 will amount to 6.3%.b

The next IMF Consultation mission to Turkmenistan is scheduled for March 2020.