Turkmenistan's GDP sees rise

/By AzerNews/

By Laman Sadigova

Turkmenistan's GDP growth reached 7.1 percent from January 2015 till November.

The GDP growth in the industrial sector hit 2.6 percent, construction – 10.1 percent, transport and communication complex – 10.2 percent, trade – 11.1 percent, agriculture – 10.4 percent, services - 11 percent, the statement said.

The growth rate of production in January-November of 2015 compared to the same period last year amounted to 5.4 percent.

The high economic potential and stable GDP growth allows the government to provide a wide range of additional social benefits to the country’s citizens.

The country’s average monthly salary in the large and medium enterprises compared with the same period last year increased by 9.5 percent.

Turkmenistan ranks the fourth in the world on natural gas reserves and is able to export it to China, Iran and Russia. Turkmenistan stays behind only Iran (33.8 trillion cubic meters), Russia (31.3 trillion), and Qatar (24.7 trillion).

Energy-rich Turkmenistan mainly attracts investments to its energy sector. Turkmenistan is proceeding with the construction of gas pipelines that will diversify the routes of Turkmen natural gas transportation, as well as building power plant and transmission lines to increase the volume of electricity. New oil and gas fields are being developed in the country.

Earlier, the Turkmen government reported with reference to the international financial agencies that Turkmenistan has been listed among top 10 countries for attracting direct foreign investments.

Meanwhile, the country's state budget revenues have been fulfilled at 100.1 percent, while the expenditures - at 85.1 percent from January till November 2015.

Since January 1, 2015 the official exchange rate in Turkmenistan remains at 3.50 Turkmen manats to the US dollar.