The Asian Development Bank (ADB) has kept the forecast for GDP growth in Turkmenistan at 6.5%, according to the “Asian Development Outlook 2017 Update: Sustaining Development Through Public-Private Partnership”. According to the bank’s forecast, the economy of Turkmenistan will grow by 6.5% in 2018. Meanwhile, the ADB lowered its forecast for inflation in Turkmenistan for…
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…
Turkmenistan has proposed to host a summit of the International Fund for Saving the Aral Sea (IFAS) founding state heads in 2018. Ashgabat’s Permanent Representative to the UN Aksoltan Atayeva, addressing a general political discussion at the 72nd session of the UN General Assembly, called on the international community to more actively address environmental issues,…
Implementation of e-payment system in public transport has started in the capital of Turkmenistan. Three types of e-cards for payment (general, for schoolchildren, for pensioners) appeared at various points of sale of Ashgabat city. General e-cards operate as e-wallets, and cash is automatically withdrawn from the balance of an e-card when brought close to a…
Turkmenistan is known worldwide for its huge oil and gas reserves, however it is not the only resource which brings the country most of its income. One of the primary exports items of Turkmenistan has traditionally been cotton. Cotton is equalized to gold as it is widely used in various industrial branches, including textile, food,…
Turkmenistan remains a key natural gas holder in the center of Eurasia, an area, which has long failed to realize its huge potential due to geopolitical developments and economic changes. The total natural gas reserves of Turkmenistan are estimated at 50.4 trillion cubic meters. As many as 19 oil and gas-oil and 65 gas fields…
Fuel and energy complex of Turkmenistan has completed preparations to ensure the smooth provision of natural gas to consumers in the autumn-winter season, Turkmen Deputy Prime Minister for Energy Maksat Babayev said at a government meeting. In total, 930,210 households as well as 5,424 industrial and social enterprises are supplied with natural gas on a…