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Turkmenistan economic growth rates in January increased


President of Turkmenistan Gurbanguly Berdimuhamedov chaired on February 4 a regular meeting of the Cabinet of Ministers, at which the country’s economic development in January, the drafts of documents aimed at developing the construction sector and other state priority issues were considered. The heads of the particular ministries and departments had been invited to the meeting.
In January 2011 the budget revenues were performed at 103.1 percent and the budget expenditures were performed at 90.2 percent.
Touching upon the work done in the construction and power industries in January, the Turkmen leader said that 120 large-scale facilities amounting to US $4.8 billion were built and put into operation last year. This year $7 billion would invested in construction projects. Today, European and Asian construction companies successfully operate in the construction sector of Turkmenistan, more new companies become our country’s partners in the construction sector.
The President signed the documents aimed at improving the activity of the construction sector, in particular regulating the procedures of exemption of construction organisations from the particular kinds of taxes, expanding and establishing construction enterprises, which produced building materials from domestic raw materials, optimizing document circulation.
The President focused on the need to improve interaction with construction companies and instructed to establish the Directorate for Construction Projects at the Ashgabat Khyakimlik, which would hold tenders for Turkmen and foreign construction companies for construction of a variety of buildings and facilities and conclude contracts with them.
Noting that considerable importance was given to development of the construction sector, the Turkmen leader informed that the share of this sector in the total volume of investments would be increased to 15 percent by 2015.
The growth rates of production of oil and gas condensate by the enterprises of the domestic oil and gas and chemical industries in the first month of 2011 made up 106 percent. Natural and associated gas production increased, natural gas exports rose 1.9 times by 41 percent as compared to the same period of 2010.
The growth rates of production of gasoline made up 117.8 percent, polypropylene – 132.8 percent, lubricating oil – 130.6 percent and liquefied gas – 128.4 percent.
The enterprises of the Turkmenhimiya State Concern increased production of mineral fertilizers to 100.4 percent as compared to the same period of 2010. Production of phosphoric fertilizers increased to 116.9 percent.
As for communication sphere it was reported that in January 91,000 of telephone points had been installed throughout the country to meet the demand in telephone services and the plan had been overfulfilled as high as 6.5 times.
President Gurbanguly Berdimuhamedov paid particular attention to the work of telecommunication and communication enterprises noting that they must provide high-quality communications services.
In this regard the Turkmen leader instructed to establish at least three cellular communications companies independent from the state in order to encourage competition between companies and broaden the range and improve the quality services rendered to the population and provide wide access to the internet.
These companies should establish joint ventures with world-renowned communications companies. The share of Turkmen companies in these joint ventures should exceed 50 percent.
The President said that the newly established companies must have the national names and render services to local population in compliance with international standards.  

Summing up the government meeting, the Turkmen leader said that the work done in the first month of 2011 – the year of the 20th anniversary of independence showed that the economic growth rates had been maintained and steadily increased.

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