Turkmenistan :Pearl of Central Asia

Most of the $144 billion investments made over the past 25 years in this country have been directed to the production assets. More than 550 large production and non-production facilities have been built and commissioned until now. During this period the volume of industrial production increased by more than 7 times. This country currently produces more than 3.5 million tons of cement annually, which is 4 times more than in 1991. Over the past quarter of a century, production of electricity increased by 55.7 percent, liquified natural gas increased by 23 times, and mineral fertilizers increased by 2.8 times. Residential buildings with total area of ​​35 million square meters have been commissioned. Each person now has a total living area of ​​23.2 square meters, which is twice more than in 1991. The volume of this country’s foreign trade turnover has increased by more than 8 times in comparison with 1995. It has established economic ties with more than 100 countries. The above figures belong to Turkmenistan, a permanent neutral country located in Central Asia, whose economic growth in oil and gas sector, construction, processing industry, light industry and food industry, in the field of communications, transport, business, and agriculture has demonstrated a very strong performance since Turkmen President Gurbanguly Berdymuhamedov were elected to the office in 2007. The economic achievments under President Gurbanguly Berdymuhamedov are now clearly visible in all spheres of public life in Turkmenistan. An average Turkmen family can now easily afford buying a new car with its annual net income, as well as a new apartment with 10 to 30 years mortgage. Parents can now afford sending their children abroad to study at the most prestigious universities of the world. For a middle-class Turkmen citizen, traveling abroad for a holiday is not a big deal now. For entrepreneurs, starting a new business is now easier than ever before. And the International Monetary Fund in its updated review of the world economy, released in October 2016, increased the forecast of GDP growth of Turkmenistan in 2017 compared with the previous assessments. The IMF predicted GDP growth of Turkmenistan in 2017 at 6.2 percent despite the external factors. Many international and local experts say that it is due to the successful large scale economic reforms underway in the framework of the national programs under the leadership of President Gurbanguly Berdimuhamedov.

Source : Atavatan Turkmenistan News Agency (ATHA)

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