Turkmenistan Reviews Results of Eight Month Socio-economic Development
Turkmenistan’s latest governmental meeting summed up the results of the socio-economic development of Turkmenistan over the first eight months of the year.
President Berdymukhamedov noted at the meeting that GDP growth was 109.8 percent. The growth in the industrial sector amounted to 106.8 percent, and to 117.5 percent in the construction industry. According to Berdymukhamedov, the State Budget’s revenues significantly exceeded its expenditures, resulting in a surplus.
Compared to last year, the growth of financial investments in Turkmenistan’s economy reached 107.1 percent, and foreign trade turnover was nearly 20 billion U.S. dollars. At the same time, the increase in wages amounted to 110.7 per cent.
Source: Turkmenistan.ru
Cash withdrawal restrictions imposed in Turkmenistan
Since August 26, Turkmen businessmen have been subject to a new cash withdrawal procedure. Entrepreneurs can now withdraw a maximum of 8800 manats ($3090) every month from their accounts. It comes as no surprise that the banks are experiencing a shortage of cash, which affects the country’s overall economy. In such circumstances entrepreneurs often become the scapegoats.
Source: Turkmenistan Chronicles
Petrofac Limited to Continue Work on FEC of Turkmenistan
President of Turkmenistan Gurbanguly Berdymukhamedov received Ayman Asfari, the head of Petrofac Limited (UAE). Asfari said that Petrofac Limited intends to take part in the implementation of new large-scale projects in the oil and gas sector of Turkmenistan, the Turkmen government reported. The head of Petrofac Limited emphasized the growth potential of the Turkmen market and the enabling environment for foreign firms. Asfari stressed that "he is proud of the involvement of the Petrofac Limited Company in the implementation of a large-scale project to develop the rich hydrocarbon deposits in South Elotene (Galkinish)."
Source: trend.az
President Berdymukhamedov Received Heads of South Korean Companies
President Berdymukhamedov received heads of the South Korean Companies LG International Corp. and Hyundai Engineering Co. Ltd, who expressed their gratitude for being able to participate in the construction of the gas production facilities at the Galkynysh gas field, inaugurated during the visit of the Chinese leader to Turkmenistan. The heads of the companies stressed their interest in further development of cooperation with Turkmenistan.
Source: Turkmenistan.ru
Turkmen President Receives UNECE Executive Secretary
President Berdymukhamedov received the Executive Secretary of the UN Economic Commission for Europe (UNECE), Sven Alkalaj, to talk about cooperation between Turkmenistan and the Commission, in light of Turkmenistan’s role as vice-chair of UNECE for a two-year period. They specified trade and the economy, energy, transport, and communications sectors as priority areas of cooperation.
Source: Turkmenistan.ru
First Meeting of Joint Turkmen-Saudi Working Group Held in Ashgabat
Representatives of Turkmenistan and Saudi Arabia held a meeting at the Ministry of Trade and Foreign Economic Relations of Turkmenistan, the press service of the Turkmen Foreign Ministry reported.
The Director-General of the Department for External Relations of the Ministry of Trade and Industry of the Kingdom of Saudi Arabia headed the Saudi delegation. The Turkmen side was represented by nine Turkmen ministries and departments. Discussions covered areas of bilateral cooperation, focusing on the textile industry, tourism, and sports.
Source: Turkmenistan.ru
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