Financial culture and digitization trends of economic growth of Turkmenistan

Regular issues of Finances and Economy magazine, specialized scientific and practical publication, which highlights the main events and trends of economic life of the country and presents analysis of current reforms to reader, has been published.

The magazine gives review of different processes forming up business environment, financial and investment climate in Turkmenistan and defining its positions in the world market.

The magazine, which was founded by the Ministry of Finances and Economy and published in Turkmen, English and Russian languages, promotes an expert dialog on the main financial and economic subjects and attracts young scientists, businessmen and managers to this dialog.

The magazine is also addressed to lecturers, post graduates and students, personnel of the government authorities and local administration, managers and marketers.

New issues starts with a material dedicated to objectives set by the Head of the State to national financial, economic and banking system at the session of the People's Council in Ashgabat on September 25, 2019.

These objectives are focused on the reforms in social sphere, making of conditions for improvement of wealth level of the nation and every citizen of the country through industrial growth, use of colossal raw material resources and increment of export, implementation of advanced technologies in all spheres.

Great attention is also paid to the integration of national banking and financial spheres to the world monetary system, exclusion and reduction of impact of financial crises on national economy of our country and improvement of rationality and efficiency of expenses.

The President of Turkmenistan has also set objectives for privatization of the state-owned property, acceleration of development of trade and market relations, achievement of stable monetary circulation on the country, establishment of stable tax system and management of labour resources.

The Head of the State highlights that it is impossible to imagine the development of our country without digital economy. In this regard, the necessity of development of new programme of development of branches has been noted with the opening of the Centre of Information Technologies of Turkmenistan.

Macroeconomic indicators mentioned statistical review of nine months of the year in the magazine demonstrate practical implementation of social and economic strategy of our state.

The magazine continues with analytical article Reproductive, profile and regional proportions of social and economic development, which describes the model of market economy of Turkmenistan. It is mentioned that active industrialization of the country is followed by the changes in the structure of the gross domestic product. Thus, the share of service branches in the GDP has increased from 24.9 percent in 2012 to 44.2 percent in 2018.

Current directions of international and regional cooperation are revealed in article The Commonwealth of Independent States: New initiatives of Turkmenistan for economic cooperation and stable development. The article sums up the outcomes of the session of the Council of the Heads of the CIS countries, which was held in Turkmen capital on October 11, 2019.

The Sustainable Development Goals is a permanent theme of the magazine. New issue continues the theme in the article narrating of important measures taken by our country for implementation of 2030 Global Agenda, achievement of the SDGs, which has been incorporated into all national and profile programmes of Turkmenistan.

Heads of different level will be interested in article Role of marketing in logistics, which describes the features and growth points of logistic system of our country, methods of optimization and enhancement of efficiency of cargo delivery to local and foreign consumers.

Article Strategy of Development of International Tourism in Turkmenistan highlights new subject for financial magazine. The article raise the matters of increment of the hospitality and travel industry's input to economic potential of the country.

The magazine also includes articles Digital Economy Economy of Perspective Growth and materials on different directions of investment policy, development of financial culture and introduction of new technologies into the sphere of banking services. The publications of specialists reviews the best world practice and make proposals on realization of strategic programmes.

Source: Turkmenistan State News Agency-TDH