In the first quarter of 2018, Turkmenistan’s GDP growth amounted to 6.2 percent

In the first quarter of 2018, Turkmenistan's GDP growth amounted to 6.2 percent. This was reported at the enlarged meeting of the government, which considered the results of the socio-economic development of Turkmenistan for 3 months of 2018.

Reporting on macroeconomic indicators for the first quarter of 2018, Deputy Chairman of the Cabinet of Ministers of Gochmyrat Myradov noted that all sectors achieved good results.

During the period under review, the industrial sector grew by 4.6 per cent, the transport and communications sector by 10.5 per cent, trade by 7.6 per cent, agriculture by 3.2 per cent and services by 10.1 per cent.

Compared to the same period last year, overall production increased by 4.1 percent.

It was also reported that in the first three months, the volume of retail trade turnover increased by 18.2 percent compared to the corresponding period of 2017. Prices for consumer goods, as well as tariffs for the provision of services to the population are maintained within the established limits.

The average monthly wage for large and medium-sized enterprises in the country compared to the same period in 2017 increased by 9.3 percent.

In the first quarter, exports grew 14.2 percent year-on-year.

After hearing the report, the President focused on the priorities, among which were the maintenance of high rates of growth of the national economy, modernization in accordance with the requirements of the time sectors of the economic complex, as well as cost reduction.

- In the current conditions it is necessary to take measures for stable development of the financial system, activation of investment activity, - Gurbanguly Berdymuhamedov continued.

"Work should also be done to strengthen the exchange rate and increase the purchasing power of the national currency, increase exports and foreign exchange reserves," the President said, addressing a number of specific instructions to the relevant heads.

Source: Nebit-Gaz