Turkmenistan's GDP grew by 6.3% in the first seven months of 2024

01.09.2024

Turkmenistan's economy is showing steady growth: in January-July 2024, the country's gross domestic product (GDP) increased by 6.3% compared to the same period last year. This indicator was announced at the next meeting of the Cabinet of Ministers of Turkmenistan, TDH writes. Deputy Chairman of the Cabinet of Ministers H.Geldimyradov presented a report on the country's macroeconomic indicators for the first seven months of this year. According to the data presented, growth is observed in all key sectors of the economy. The most significant growth was recorded in the construction industry, where the figure reached 9.3%. In agriculture and trade, the growth was 7.8%, in the transport and communication sector - 7.1%, and in the service sector – 7%. The industrial complex also showed positive dynamics with an increase of 3.6%. Total output during the period under review increased by 11.5% compared to the same period in 2023. The volume of retail trade increased by 11%. The government also reported on the successful execution of the state budget: the revenue part was fulfilled by 102.9%, and the expenditure part by 97.8%. It was particularly noted that salaries, pensions, state benefits and student scholarships are funded on time and in full. Commenting on the presented data, President of Turkmenistan Serdar Berdimuhamedov stressed the need to further maintain the stability of macroeconomic indicators and ensure high GDP growth rates.