According to IMF experts, GDP growth in Turkmenistan will be high
On March 26 - April 9, the IMF mission, led by Natalia Tamirisa visited Ashgabat to assess the development of the macroeconomic and financial situation, discuss the priorities of the economic policy of Turkmenistan, as well as global economic challenges.
In frames of the visit, the representatives of this largest structure held a number of meetings with senior officials of government administration bodies, the representatives of business circles, financial sector and diplomats, during which they were familiarized with the main results of the socio-economic reforms, taken place in the country.
Upon the completion of the visit, the IMF mission published a press release, providing prediction estimates on some economic and financial positions of Turkmenistan in 2019. Thus, according to experts, the GDP growth in Turkmenistan will be high - 6.3% that is one of the highest rates in the world, and the highest among the neighboring countries in the Central Asian region.
The Head of the IMF mission provided recommendations for the further economic development of the country, which are consonant with the programme objectives set by the President and consistently implemented in the state policy of Turkmenistan.
Among them are, in particular, the acceleration of market reforms and strengthening of human capital, privatization of state-owned enterprises, improvement of the legal system, enhancement of the competitiveness of export products, diversification of the national economic complex and investment promotion.
In these and many other relevant areas, President Gurbanguly Berdimuhamedov identified specific measures and mechanisms for achieving the goals, laid down in the basis of the Programme for the Socio-Economic Development of the country for 2019-2025. In particular, the Programme stipulates the tasks of the most complete utilization of all resources and opportunities for the stable growth of the national economy, development of the private sector, creation of joint-stock companies, strengthening the activities of stock exchanges and the security market.
The President of Turkmenistan pays particular attention to the digitalization of the economy and strengthening human resources in this area, introducing electronic and intellectual systems to improve the efficiency of public administration and the quality of people’s life, reforming and modernizing agriculture through high technologies and attracting small- and medium-sized businesses. The state policy, pursued by the President of Turkmenistan, prioritizes the investment into the spheres of education and health care, strong support to such areas as culture and sports.
Regular assessments and forecasts by IMF invariably confirm that Turkmenistan confidently continues its socio-economic development, consistently implementing large-scale plans. In the process of structural and qualitative transformations in the country, the national model of market economy is being formed and improved, which is actively integrated into the world division of labor, global trade and information links.
The International Monetary Fund is a partner of Turkmenistan in conducting economic reforms. IMF provides technical assistance to support the ongoing macroeconomic reforms. The next visit of IMF is scheduled for October 2019.