Turkmenistan's GDP grows 6.3% in 9M 2024 - Deputy PM

ASHGABAT. Oct 7 (Interfax) - Turkmenistan's GDP grew 6.3% in January-September 2024, Turkmen Deputy Prime Minister Hojamyrat Geldimyradov, responsible for the economy and finance, said.

"As a result of the policy measures taken, a stable rate of GDP growth has been ensured, which stands at 6.3%. In industry, [growth stands] at 3.5%, 9.3% in construction, 6.8% in the transport and communications sector, 9% in trade, 5.2% in agriculture, [and] 7.5% in services," Geldimyradov was quoted by the Neutral Turkmenistan newspaper as saying at a government meeting at the end of last week.

Output was 11.7% higher compared to the same period of 2023, retail trade increased 11.2%, and the figures for foreign trade were also positive, he said.

Budget revenues were 2.4% above target and expenditures 2.3% below, he said.

Wages at large and medium-sized enterprises grew 10.5% compared to the same period of 2023, and wages, pensions, state grants and student stipends were financed on time.

Capital investment utilized from all sources of financing increased 16.6%, he said.

After hearing Geldimyradov's report, Turkmen President Serdar Berdimuhamedov ordered that the required measures be taken to achieve good results in all economic sectors and to maintain stable GDP growth this year. He underlined the need to analyze state budget projects and programs for the country's social and economic development and investment in 2025.

Turkmenistan's GDP grew 6.3% in 2023. The government is planning for the same figure in 2024. Growth in the first quarter and the first half of 2024 was also 6.3%.