Turkmenistan's GDP growth reaches 6.3% in 5 months

ASHGABAT. June 10 (Interfax) - Turkmenistan's GDP growth rate stood at 6.3% over the past five months, the Neutral Turkmenistan newspaper said on Saturday.

Turkmen President Serdar Berdimuhamedov said at a government meeting dealing with the results of Turkmenistan's socio-economic development for January-May 2024 that Turkmenistan's performance over five months of this year demonstrates the success in implementing the adopted programs. The GDP growth rate thus reached 6.3% in the period under review, the newspaper quoted the president as saying.

The figure rose 3.6% in the industrial sector, 7.1% in the transport and communications sector, 7.9% in services, 7.8% in trade, 7.8% in construction, and 5.4% in agriculture, Berdimuhamedov said.

The state budget's revenue part was executed at 102.2% and the expenditure part stood at 97.6%, Berdimuhamedov added.

A sustainable GDP growth rate is seen in the country, Deputy Prime Minister Hojamyrat Geldimyradov said in a report on macroeconomic indicators for the first five months of this year at the government's meeting.

The output of manufactured products rose in January-May 2024 year-on-year, he said. Positive production figures have been noted in various economic sectors. In particular, retail trade increased 11.1% year-on-year.

The salaries in large and medium-sized enterprises in Turkmenistan were raised 10.4% over the past five months year-on-year, Geldimyradov said. "The volume of capital investment utilized at the expense of all funding sources increased 17.8% over the past five months year-on-year," Geldimyradov added.

Berdimuhamedov tasked Geldimyradov with making efforts to maintain the sustainability of the national economy's macroeconomic indicators.