EBRD predicts high growth rates of Turkmenistan’s GDP in 2023-2024
16:50 17.05.2023 10066
The European Bank for Reconstruction and Development (EBRD), in its May Regional Economic Prospects review, published its assessment of Turkmenistan’s GDP growth in 2023-2024.
Thus, the EBRD forecasts the GDP growth of Turkmenistan in real terms in 2023 at the level of 6.5%, in 2024 – at the level of 7%.
At the same time, bank experts note the significant contribution of the oil and gas sector of our country to stable GDP growth rates in 2022 and the first quarter of this year at the level of 6.2%. According to experts, this result was achieved due to higher-than-planned production and export of natural gas.
The May review also notes the important role of one of the world’s largest gas fields, Galkynysh, where new wells are being commissioned, which contributes to the further expansion of production and export of Turkmen natural gas.
The EBRD also highlights the growing opportunities of Turkmenistan in regional cooperation in the field of transport. In particular, it is noted that in 2022 the volume of transit cargo transported through the seaport of Turkmenbashi increased by 2.5 times, mainly due to the transit of oil products, chemicals, building materials, metals, food, machinery and spare parts.
The bank’s experts also note the important role of Turkmenistan in enhancing trade and economic cooperation between China, Iran, Central Asia, Turkey and Southern Europe, which is facilitated by the modernization of transport networks and improved logistics capabilities.
SPIEF: Turkmenistan considers energy and transport among the key areas of integration within the CIS
Cooperation in the energy and transport sectors can become strategic areas of integration within the CIS. This was stated by the Minister of Finance and Economy of Turkmenistan Muhammetgeldi Serdarov, speaking on Thursday at the St. Petersburg International Economic Forum (SPIEF), the Turkmen news agency Orient reports.
The President of Turkmenistan took part in the opening of a new gas gathering station in Lebap region
As part of a festive trip last Saturday to the Lebap region, President of Turkmenistan Serdar Berdimuhamedov took part in the solemn ceremony of commissioning a new gas gathering station.
In the future, we will make every effort for long-term cooperation with Turkmenistan in the gas sector, - head of CNPC
The commissioning of a new facility in the Bagtyyarlyk contract area, the opening of which was attended by the President of Turkmenistan, is an unforgettable event for both Chinese and Turkmen specialists. This was stated by the President of the CNPC Board of Management Hou Qijun, speaking to the participants of the celebration on the occasion of the commissioning of a new gas gathering station in the Farap etrap of the Lebap velayat.
Turkmenistan delegation takes part in UN Climate Change Conference COP29 in Baku
Turkmenistan delegation takes part in the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), which is being held in Baku from November 11 to 22, the Ministry of Foreign Affairs of Turkmenistan reports.
Wood Mackenzie: Brent oil price will roll back to $85-90 per barrel only by 2025
In the coming years, oil prices will remain at a high level due to the redistribution of supplies on world markets; even a possible decrease in demand will not affect its value. This forecast is given by Wood Mackenzie analysts, Interfax reports.