WNAM MONITORING: At an extended meeting of the Government, President Serdar Berdimuhamedov outlined the key objectives of Turkmenistan’s economic policy for the current year.
The head of state focused on the need to implement the Social and Economic Development Program designed for 2022-2028.
According to the document, in 2024 it is planned:
- maintain GDP growth at 6.3%;
- stably develop sectors of the national economy and regions;
- achieve the full capacity utilization of production complexes;
- create about 3,000 jobs through the construction of new enterprises.
It is also planned to increase the volume of foreign trade turnover to 20.7 billion US dollars, develop small and medium-sized businesses, increase the share of the private sector in the structure of GDP (not including the fuel and energy complex) to 71.4%, as well as population incomes due to an increase of 10 % of wages, pensions, state benefits and scholarships for students, improve the social and living standards of citizens.
In addition, in 2024, it is planned to invest 38.5 billion manat in the country’s economy from all sources of financing.
During the meeting, a Resolution approving this Program was signed.
Then, addressing Deputy Prime Minister Kh. Geldimyradov, the head of Turkmenistan ordered to continue to carry out effective activities to structurally reform and diversify the national economy, increase its competitiveness and innovative development, as well as increase the share of the private sector.
The state budget is the main financial instrument, noted President Serdar Berdimuhamedov, emphasizing the importance of taking measures to increase State Budget revenues, as well as ensuring control over the intended use and development of its expenditure side.
In continuation, the significant role of the banking sector in the socio-economic development of the country was emphasized. In this context, instructions were given to continue work on financing projects related to the implementation of government programs for sustainable economic growth, as well as issuing loans for projects for the development of private enterprises and business production, preferential loans to improve the social living conditions of the population.
Particular emphasis was placed on the need to take measures to maintain the stability of the banking system and prevent the influence of foreign economic factors on the country’s economy. Among the priority tasks, the head of Turkmenistan also named providing financial support for economic development, maintaining a stable exchange rate of the national currency, providing banking services in accordance with the realities of the time, as well as the effective use of raised funds.
