Turkmenistan's GDP in the first half of 2020 increased by 5.9%. This was reported at an extended government meeting last Friday, which examined the results of socio-economic development for January-June of this year.
Reporting on macroeconomic indicators for the first half of 2020, Vice Prime Minister Gadyrgeldi Mushshikov said that compared with the same period last In the whole year, production increased by 4.4%. The volume of retail trade turnover in January-June compared to the corresponding period of 2019 increased by 13.8%. The size of the average monthly wage for large and medium-sized enterprises of the country is higher by 10.5% compared to the same period in 2019. After hearing the report, President Gurbanguly Berdymukhamedov outlined the key tasks for the near future. Among the priorities was the maintenance of economic and financial stability in the country, increasing the level of employment of the population, accelerating reforms in the banking system. At the same time, it was noted the importance of increasing foreign direct investment, increasing export potential and securing the flow of foreign currency funds. Strengthening competitiveness in the industrial sector and developing entrepreneurship are also promising areas. At present, the introduction of digital technologies is a priority for all leaders, the head of state said. Gurbanguly Berdimuhamedov also emphasized the need to strengthen work to reduce the state share in the national economy and expand the share of the private sector in it. Separate state-owned energy enterprises should be included in the list of objects to be privatized, transport and communication industries, numerous infrastructure and other facilities. The main tools of this process should be the placement of shares, the organization of the stock market and competitive bidding, the President said.
