Monday, August 06, 2012 -
The national economy of Turkmenistan expanded by 11 percent in the first seven months of 2012 compared with the same period last year, the Turkmen president said Friday.
The president made the remarks in a government meeting on Friday, which was then shown on state television on Monday.
President Gurbanguly Berdimuhamedov also noted that Turkmenistan’s gross domestic product last year to end-July rose by 14.4 percent versus the same time frame in 2010, in remarks broadcast on state television.
"There is every reason to believe that this growth trend will continue in the future," the head of state told a meeting of government officials, according to the official government portal Turkmenistan.gov.tm.
Berdimuhamedov attributed the strong growth rate to an industrial production level that is powering along at 40 percent and construction expanding by 18.4 percent.
Turkmenistan is also the leading natural gas producer in Central Asia and has the fourth largest reserves in the world.
Natural gas production and export sales are key economic drivers of the landlocked and isolated former Soviet republic.
State-run media reported Monday that gas production rose by 12.1 percent this year to end-July versus the same year-ago period. Gas sales abroad were up 16.1 percent in the same comparison.
The president " gave instructions to further develop the fuel and energy sector ... and attract foreign investment in large-scale infrastructure projects, including the development of new hydrocarbon deposits and building pipelines," the TV report said.
Turkmen economic statistics are not verifiable due to the closed nature of the regime.