Turkmenistan's GDP rose 6.3% in 2023, similar growth targeted in 2024

ASHGABAT. Feb 12 (Interfax) - Turkmenistan's GDP grew 6.3% in 2023, President Serdar Berdimuhamedov said.

"A high rate of economic development was achieved in 2023. GDP grew 6.3%, including 4.3% in the industrial sector, 12.8% in trade and 4.4% in agriculture. Investments increased 7.5%," the governmental Neutral Turkmenistan newspaper quoted him as saying at a government meeting.

Exports reached $11.4 billion.

Berdimuhamedov also gave details of the approved 2024 socioeconomic development program, which targets 6.3% GDP growth this year as well.

"We plan together with this to increase foreign trade to $20.7 billion, to develop small and medium businesses, to increase the share of the private sector in GDP not including the fuel and energy complex to 71.4%, as well as to boost household incomes through a 10% increase in wages, pensions, state benefits and student scholarships, and to improve social and living standards," he said.

"Planned investment in the country's economy from all sources of financing is 38.5 billion manat [$11 billion] in 2024," he said.