Economy of Turkmenistan should be based on market relations, the country’s President Gurbanguly Berdimuhamedov said at a government meeting.
The draft state budget for 2018 was on the agenda of the meeting.
The Turkmen president noted that during the draft state budget’s preparation, special attention should be paid to increasing the volume of loan funds directed to the growth of the national economy.
In this regard, Gurbanguly Berdimuhamedov said that it was necessary to ensure measures on stimulating, establishing and developing small enterprises. It is also necessary to increase the volume of loan funds allocated for the population, improve the quality of banking services and ensure the availability of interest rates on loans, the Turkmen president added.
“The state will continue to support entrepreneurship, promote the development of small and medium-sized enterprises,” Gurbanguly Berdimuhamedov said.
Turkmenistan’s private sector of economy accounted for 62.3% of GDP in 2016.
Turkmenistan has embarked on a policy of gradual transition to market economy. A number of measures, including denomination of the national currency and switching to the international accounting standards, have been implemented in the country. (Trend/Business World Magazine)
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