The Cabinet of Ministers reviewed the results of the performance of the economy from the beginning of the year

The meeting of the Cabinet of Ministers has summed up the results of work in the economic, social and foreign policy sectors from the beginning of the year.

President Gurbanguly Berdimuhamedov noted the continued dynamic development of the country. Within the statutory period the new Cabinet has been formed. The momentum of GDP growth, which in January-February was 6.2 percent, has been maintained. Growth in agriculture is 7.8 percent, in trade - 16.9 percent, in transport and communications - 14.2 percent, and in services - 10.3 percent.

The construction projects worth more than 48 billion US dollars are being implemented; most of which are social facilities. The Head of State has gladly noted that domestic construction and installation companies are performing almost 17 billion dollars' worth of works, which is 20 percent more than last year.

As has been reported by the vice-premiers at the meeting, at the end of two months, the volume of retail trade turnover has increased by 17.1 percent compared with the corresponding period in 2016. The amount of wages in the large and medium-sized enterprises has increased by 9.6 percent. The state budget revenues have amounted to 2.8 billion manat and expenditures � to 2.7 billion manat.

The construction of manufacturing, social and cultural facilities is ongoing. The volume of utilized investments at the expense of all sources of funding has amounted to 3.9 billion manat.

In accordance with the new edition of the National Program of rural development, the construction of 512.4 km of engineering and communication networks and 27.1 thousand square meters of housing has been completed, work is ongoing on the construction of 63 social purpose buildings, 28 water and sewage treatment facilities, more than 763.4 thousands square meters of housing, and engineering facilities. The volume of attracted investments amounted to 156.6 million manat.

Information on the industrial development of the regions has been announced. Thus, today the construction of 216 projects has been finalized and on 104 projects the work continues.

President Gurbanguly Berdimuhamedov noted the need to speed up the privatization of state enterprises and their transformation into joint-stock companies, as well as the development of the securities market, focused on the matters of increasing the production of import-substituting goods and export of domestic produce.

As has been noted at the meeting, the construction of the Turkmen section of Turkmenistan-Afghanistan-Pakistan-India Gas Pipeline is performed according to the schedule; the survey works on the pipeline route through Afghanistan have already been launched.

President Gurbanguly Berdimuhamedov instructed to organize a high-level opening ceremony for the commissioning of Turkmenabat-Farab railway bridge across Amu Darya, noted the need to improve the quality of rail and air transport services, to strengthen the material-technical base of these industries.

As has been reported at the meeting, during the reporting period, the State Commodity and Raw Materials Exchange has had 40 trading sessions, which registered 1674 contracts with a total worth of more than 3.4 billion manat. Their main part is export-import transactions (over 3.2 billion manat).

The members of the Union of Industrialists and Entrepreneurs of Turkmenistan have produced industrial products with a total worth of 80 million manat, with production volume increase of 38.9 percent, and agricultural and food products for 120 million manat, with an increase of 38.1 percent. Building and assembly works have been performed for the amount of 261.6 million manat, with increase equal to 2 percent. The volume of trade turnover amounted to more than 1.8 billion manat with an increase of 5.6 percent. In the service sector, performed works amounted to 158.6 million manat with an increase of 6.2 percent.

It was also reported that 34 domestic competitions and 21 mass sport events have been held during the last two months. Our athletes participated in 22 international sports competitions, where they won 136 medals: 59 gold, 34 silver and 43 bronze.

Focusing on the activity of the State Committee for Tourism, President Gurbanguly Berdimuhamedov expressed dissatisfaction with the results of the work, noting that tourism is one of the most profitable industries in the world.

As has been noted at the meeting, during the reporting period, visits to Turkmenistan through the Ministry of Foreign Affairs have been carried out by 64 foreign delegations, and 120 Turkmen delegations have been sent abroad. 19 conferences and meetings were organized in our country together with foreign partners. The legal framework for international cooperation of Turkmenistan has been supplemented by 7 more documents. Information was also provided about the program of the upcoming visit of the President of Republic of Uzbekistan to Turkmenistan on March 6-7.

At the meeting it was reported that, compared to the same period of the previous year, production volumes of flour, bread, bakery products and pasta, meat, milk, eggs, and vegetables have increased. There is an active preparation for the sowing of cotton, vegetables, melons and fodder crops.

Giving a blessing to the start of cotton sowing in Ahal, Lebap and Mary provinces on March 25th and in Dashoguz province on March 29th, the President of Turkmenistan expressed confidence that farmers will grow a rich harvest in the Year of Health and Inspiration. Stressing the importance of implementation of the National Forestation Program of Turkmenistan, the Head of State has signed a decree on holding a nationwide landscaping campaign on March 18th.

Source: Turkmenistan State News Agency-TDH