Turkmen Economy Expected to Grow 6.5% in 2022

BUSINESS TURKMENISTAN
Turkmen Economy Expected to Grow 6.5% in 2022
Turkmenistan intends to support private entrepreneurship by creating a favorable business environment, the Vice-Premier Serdar Berdimuhamedov stated.

The GDP of Turkmenistan is expected to increase by 6.5% in 2022, the Deputy Chairman of the Government Serdar Berdimuhamedov, who is in charge of economic and financial issues, said in his briefing to President Gurbanguly Berdimuhamedov during the cabinet meeting on Friday.

Briefing on the priorities for 2022, the Vice-Premier said specific measures will be taken to increase the capacity of the national economy, to ensure the sustainable development of all spheres and regions, and to increase the profitability and competitiveness of industries.

The country also intends to widely introduce a digital system in all spheres, develop the electronic industry, increase export-oriented domestic industrial production, reduce imports by increasing local production, as well as support private entrepreneurship by creating a favorable business environment, the Vice-Premier emphasized.

As a result of economic efficiency in all sectors of Turkmenistan and successful implementation of large-scale reforms and programs, the country’s GDP is expected to grow 6.5% next year, Serdar Berdimuhamedov stated.

He said next year centralized capital investments will be used to build particularly important facilities, such as healthcare centers, schools, kindergartens, clean drinking water systems, and houses for people in need.

The cabinet meeting discussed issues of the state domestic and foreign policy.

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