President of Turkmenistan sets tasks to minimize negative impact of coronavirus pandemic on economy

During the extended meeting of the Government on April 3, dedicated to the results of the first quarter of this year, President Gurbanguly Berdimuhamedov underlined that today, the world had faced a very difficult situation. International experts from various agencies forecast that coronavirus pandemic causes global recession in 2020.

In this context, the President outlined a number of key tasks to ensure the sustainable development of the national economy. In particular, it was underlined the importance of high growth rates of domestic production and increase in the level of industrial self-sufficiency, reduction of imports and increase in exports. At the same time, one of the most important areas is the support and development of small and medium-sized business.

The President instructed the relevant officials to prepare proposals for the revision of the State budget and budget expenditures and submit them to the Cabinet of Ministers for consideration.

Particular emphasis was placed on the necessity to develop and adopt prompt and medium-term measures to reduce the negative impact of the coronavirus epidemic on business in our country due to the instability in the global economy.

The President of Turkmenistan gave instructions to expand the programme on lending to small and medium-sized businesses, to make the list of enterprises to be granted with benefits for deferring the payment of taxes and debt on loans.

Addressing the heads of the oil and gas complex, the President of Turkmenistan noted that
it was necessary to take urgent measures and carry out the relevant work to adapt the production activities of concerns to the situation associated with price declines for hydrocarbons in the world.

It was also noted that because of restrictions to counteract the spread of coronavirus infection in the world, air carriers face serious difficulties. Because of the termination of air traffic and the reduction in cargo flows, the agencies may have difficulties with fulfillment of production tasks. In this regard, the President instructed Deputy Prime Ministers B. Ovezov and G. Mushshikov to analyze the situation and prepare proposals on the measures to defer the payment of taxes or loans taken by the agencies, as well as on their support.

Addressing the heads of the trading complex, President Gurbanguly Berdimuhamedov noted that one of the most important tasks was to ensure the stable work of the trading system. This area should be continuously monitored, and, if necessary, additional steps should be taken to create sufficient stocks of essential goods, including food products.

The relevant instructions were given to supervise the business sector. In particular, the President instructed the relevant officials to immediately develop measures to support private production enterprises and make appropriate proposals.

The President emphasized that the measures should be aimed at stimulating entrepreneurial activity of citizens, preventing job cuts, as well as creating new employment opportunities.

Due to the difficult situation in the world economy, Deputy Prime Minister Sh. Durdyliyev was instructed to review the plans on the construction of new buildings and select only the most necessary social facilities. According to the President of Turkmenistan, the updated construction programme should be submitted to the Cabinet of Ministers for consideration at the next meeting.

At the same time, despite the difficulties arisen in the world, President Gurbanguly Berdimuhamedov underlined the necessity to continue construction of the energy ring inside the country, the Turkmenistan-Afghanistan-Pakistan electrical and communications system.

Source: Turkmenistan State News Agency-TDH

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