Turkmenistan plans 6.5% GDP growth in 2023 - program
ASHGABAT. Feb 13 (Interfax) - Turkmenistan's GDP should grow by 6.5% in 2023, in line with a socioeconomic development program endorsed by President Serdar Berdimuhamedov.
The relevant presidential directive was published in the official government newspaper Neutral Turkmenistan. Berdimuhamedov signed it at an expanded government meeting on Friday, which reviewed the outcomes of Turkmenistan's socioeconomic development in 2022.
In line with the program, Turkmenistan plans to create about 3,000 new jobs by building enterprises, increase its foreign trade to $19.4 billion, and continue developing small and medium-sized businesses to bring the share of the private sector in the GDP structure (exclusive of the fuel and energy industry) to 71.3%.
The program also attaches priority to increasing households' incomes, including an increase by 10% of salaries, pensions, government allowances, and students' stipends.
The president also endorsed Turkmenistan's investment program for 2023, under which capital investments in the national economy should amount to 37.4 billion manat (equivalent to $10.7 billion in line with the official exchange rate).
The president said at the government meeting that, as per the investment program, 20.8 billion manat ($5.9 billion) should be invested in the construction of manufacturing facilities and 16.6 billion manat ($4.7 billion) social infrastructure.
Turkmenistan plans to commission 1.058 million square meters of housing owing to all sources of financing in 2023.
"This year, we will commission the Ahal-Balkan and Balkan-Dasoguz overhead high-voltage power transmission lines, the Ashgabat-Turkmenabad highway section between Tejen and Mary, 15 secondary schools and three kindergartens. We will also provide substantial funding for building motor roads, communication systems, water, gas, and power supply systems, and wastewater treatment facilities," Berdimuhamedov said.
Turkmenistan has not yet published official data on GDP for 2022. At the end of January, the United Nations estimated it at about 6% (compared to 6.2% in 2021) and anticipated it to grow by another 5.8% in 2023.
In November 2022, the European Bank for Reconstruction and Development (EBRD) anticipated Turkmen GDP growth in 2022 to be up to 7%.