Turkmen President Outlines Key Tasks to Ensure Country’s Macroeconomic Stability

BUSINESS TURKMENISTAN
Turkmen President Outlines Key Tasks to Ensure Country’s Macroeconomic Stability
Turkmen President said it is necessary to revise the payment for services in order to create competition between banks.

President of Turkmenistan Gurbanguly Berdimuhamedov during a Friday meeting of the Cabinet of Ministers determined the main tasks of the Government for 2021.

Addressing the members of the Cabinet of Ministers, the Head of State said it is necessary to implement necessary measures to ensure the stable development of the national economy and mitigate possible economic damage, TDH reports.

It is necessary to simplify the procedure for attracting and issuing cash deposits to individuals and legal entities of the private sector, and to revise the payment for services in order to create competition between banks, Turkmen President noted.

The government officials were instructed to monthly analyze the foreign exchange earnings of the state entities and their impact on the country's foreign trade turnover.

During the meeting, the Head of State noted the need to implement a set of measures to attract funds, loans and grants from international financial structures, such as the International Bank for Reconstruction and Development, the European Bank for Reconstruction and Development, and the Asian Development Bank to support small and medium-sized enterprises.

Turkmen Leader instructed to take measures to create favorable conditions for the development of the non-state sector of the economy and in 2021 to increase its share in the counties GDP from the current 70% to 70.6%.

The meeting also discussed important matters of state’s life and considered draft documents.