In the first ten months of 2024, the economy of Turkmenistan demonstrated steady growth – the country’s GDP increased by 6.3%. This was announced by Deputy Chairman of the Cabinet of Ministers H. Geldimyradov at a government meeting.

“Over the past period, comprehensive measures were taken to ensure the stable development of all sectors of the economy and regions, maintaining a sustainable GDP growth rate, which amounted to 6.3 percent,” the State Information Agency of Turkmenistan (TDH) quotes Geldimyradov as saying.

According to the data presented, the highest growth was recorded in the construction sector – 10.9%. Significant dynamics were also shown by the trade sector (9%) and the services sector (8.6%). The transport and communications complex grew by 6.7%, agriculture – by 5.3%, and the industrial sector – by 2.5%.

The total volume of manufactured products demonstrated particularly impressive results, exceeding the figures for the same period in 2023 by 11.8%. Retail turnover also showed positive dynamics, increasing by 12.5%.

In the financial sector, successful execution of the state budget is noted: the revenue part was fulfilled by 102.8%, the expenditure part – by 97.7%. Salaries in large and medium-sized enterprises increased by 10.5% compared to last year. At the same time, all social obligations, including the payment of pensions, benefits and scholarships, were fulfilled in full.

The volume of capital investments in the economy increased by 25.2% compared to 2023. President of Turkmenistan Serdar Berdimuhamedov, having heard the report, instructed to continue work to ensure effective growth of all sectors of the economy and sustainable development of the regions.