The volume of production in Turkmenistan increased by 11.7% in the first nine months of 2024 compared to the same period in 2023, announced Deputy Chairman of the Cabinet of Ministers for Economic and Financial Affairs, Hojamyrat Geldimyradov, during an extended Cabinet session on Friday.

According to official Turkmen media, Geldimyradov highlighted the country’s stable economic growth over the nine months. GDP rose by 6.3%, with notable increases in key sectors: industry grew by 3.5%, construction by 9.3%, transport and communications by 6.8%, trade by 9%, agriculture by 5.2%, and services by 7.5%.

Retail turnover increased by 11.2% compared to the same period last year, and foreign trade also showed positive results. The state budget’s revenue performance reached 102.4%, while expenditures were fulfilled by 97.7%.

The average salary in large and medium-sized enterprises grew by 10.5%, with timely payments of wages, pensions, benefits, and scholarships. Investment volume increased by 16.6% during this period, funded from various sources.

President Serdar Berdimuhamedov instructed the government to review the draft Program for Socio-Economic Development and Investments for 2025, as well as the State Budget for the next year, emphasizing the need to enhance efficiency in these areas.

The Cabinet meeting also reviewed the performance of economic sectors over the past nine months and outlined future tasks.

Business Turkmenistan