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Socio-economic development shows steady growth
Mar '08
A meeting of Cabinet Ministers was held on March 3, under the chairmanship of Gurbanguly Berdymuhamedova, President of Turkmenistan. The outcome of socio-economic development for the period January-February 2008, were announced during the conference.

The total production for these two months has reached 26.9 trillion manats, which is 20.1 percent higher than the corresponding figures of last year.

Higher rates of economic development are achieved in areas of industry, agriculture, construction, transport & communication and trade, each marking a rise of 27, 11.3, 17, 15.2, and 23.2 percent respectively.

The average gross domestic product in January alone amounted to 8.5 trillion manats. Increased development is also seen in power generation, petroleum, oil refining, production of gasoline, diesel fuel, shoes as well as cotton fiber and yarn.

As compared to 2007, the retail trade turnover increased by 23.2 percent, while the average monthly wage in January amounted to 2.8 million manats, which is higher by 12.6 percent compared to the same period last year.

Moreover, foreign trade turnover in January touched US $1.4 billion, which is 39.3 percent more than in the corresponding period of 2007. As a consequence, the volume of exports also rose 2.2 times higher than imports.

Speaking at the meeting, Minister of Finance Hodzhamyrat Geldimyradov reported that in the past two months profits accounted for 4842.3 billion manats, marking a year-on-year rise of 26.3 percent.

However, expenditure also increased to reach 2297.6 billion manats, up by 8.7 percent than the first two months of last year.

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