The GDP of Turkmenistan increased by 5.8% during the first nine months of this year.

The meeting of the Cabinet of Ministers of Turkmenistan on Friday summed up the results of the work of industries in nine months of this year. The officials discussed the progress of the President's programs, and the programs of the country's socio-economic development, and identified priority tasks for the coming period, TDH news agency reports.

According to the report, Deputy Chairman of the Cabinet of Ministers Gadyrgeldi Mushshikov reported to President Gurbangeldi Berdimuhamedov on macroeconomic indicators for nine months. During the period, the GDP growth rate amounted to 5.8%.

According to the Deputy Prime Minister’s report, the volume of products manufactured in January-September increased by 4.2% compared to the same period in 2019, which demonstrates the stable development of the sectors of the national economic complex.

The Deputy Prime Minister said the volume of retail trade turnover for three quarters is 19.4 percent higher compared to the same period last year, wages for large and medium-sized enterprises are 10.4 percent higher compared to the same period in 2019, and the volume of total investments reached 22.2 billion manats.

The Deputy Chairman also reported on the results of preliminary calculations of the financial and economic activities of ministries and industry departments to increase the amount of wages, pensions, state benefits and allowances for students and trainees by 10% from January 1, 2021. Then the President of Turkmenistan signed the relevant Resolution.

During the meeting, President Gurbanguly Berdimuhamedov focused on priority areas of work for the coming period. The Head of State noted the importance of continuing the work on liberalizing the economy (including the energy market), developing competition, improving business conditions, and reducing the share of state-owned entities in national economy.

In addition, the Head of State reprimanded Deputy Prime Ministers Myratgeldi Meredov, who oversees the country's oil and gas complex, Bayramgeldi Ovezov, who oversees transport and communications sectors, and Chary Gylyjov, who oversees the country's trade complex.

President Gurbanguly Berdimuhamedov noted that the Deputy Chairman of the Cabinet of Ministers Purli Agamyradov, who is in charge of education, healthcare and science, did not cope with the duties entrusted to him. In this regard, for serious shortcomings in his work, the Head of State dismissed him from his post. The Turkmen President appointed Mammetmyrat Geldiniyazov to the post, relieving him of the post of Department Head at the Cabinet of Ministers.

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