Turkmen GDP grows 6.3% since early 2016

In the result of the progress achieved, the growth rate of gross domestic product (GDP) of Turkmenistan in January-April 2016 has remained steady at the level of 6.3 percent, the country's President Gurbanguly Berdimuhamedov said, the government reported in a message May 7.
The president, speaking at a meeting of the county's cabinet of ministers, said that the volume of investments in the various sectors increased by 5.7 percent.
In average, wages increased by 9.6 percent in Turkmenistan, he added.
Construction of various facilities worth over $50 billion is being held in the country. On the results of the four months, more than 30 major facilities have been built and commissioned.
Turkmenistan's GDP growth will be 5.4 percent in 2016 (compared to 6.5 percent in 2015), according to the forecast of the International Monetary Fund (IMF).
Turkmenistan ranks fourth in the world in terms of the volume of natural gas and has opportunities to export it to China and Iran. Meanwhile, Russia suspended the purchases of Turkmen gas in 2016.
Ashgabat chose a course to diversify the local economy. The textile industry, as well as the area of petroleum products, advanced. The oil, gas and chemical industry and the production of building materials are being actively developed.
Source: trend
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