The dynamic economic growth in Turkmenistan making up an average of 11 percent over the past five years has led to the advancing increase of the GDP per capita that was confirmed by the World Bank. Since 2007, the GDP in Turkmenistan has grown 3.5 times and the GDP per head – 1.9 times. This year, the GDP per capita in Turkmenistan has reached the level of the middle upper income countries.
Over the past five years, the volume of investments into the national economy of the country has increased more than eight times including the increase of foreign investments that has grown more than 8.6 times. In general, the investments were used for creation of new production facilities, modernization of industries and development of the social sphere. It was reflected in the Programme of the President of Turkmenistan on the social and economic development of Turkmenistan for 2012-2016, which specified the priorities of the socio-economic development of the country.
In 2007-2011, the foreign trade turnover in Turkmenistan's increased 2.1 times, while the export increased 1.9 times, imports - 2.6 times. The foreign trade turnover balance within these years was maintained at a consistently positive level. The State Budget in recent years has been marked with a significant surplus. Summing up the year of 2011, it made up 3.6% to the GDP. This year, the surplus of the State Budget is also significant. The State budget revenues significantly exceeded the expenditures,
The existing fiscal regime promotes the positive dynamics of development of the subjects of the economic activity and the stability of the social environment. The level of the tax load on the national economy is about 22% to the GDP. The taxation provides significant benefits to the priority branches of development of the national economy. Annually salaries, pensions and welfare payment are increased (an average of 10%). The local population use electricity, natural gas, water and salt free and receive 120 liters of petrol for one car each month.
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The macroeconomic indicators mentioned above will be perceived more vividly if they are supplemented with the following specific statistics.
Since 2010 till this November, 100 (!) highway bridges and interchanges were built in the Turkmen state.
84 pre-school institutions designed for 12,960 seats, 67 secondary schools for 32,712 pupils, 49 sports schools for 17,765 young sportsmen, 10 universities, 23 complexes of sports facilities and stadiums designed for 88,150 seats, five large hippodromes, 11 Centres of culture, two libraries with multi-million book funds, four museums, 35 health centers, 26 hospitals, apartment houses with a total area of 3.857 million square meters, 6,058 kilometers of communication lines were built in the country in the period.
Over the past five years, the volume of investments into the national economy of the country has increased more than eight times including the increase of foreign investments that has grown more than 8.6 times. In general, the investments were used for creation of new production facilities, modernization of industries and development of the social sphere. It was reflected in the Programme of the President of Turkmenistan on the social and economic development of Turkmenistan for 2012-2016, which specified the priorities of the socio-economic development of the country.
In 2007-2011, the foreign trade turnover in Turkmenistan's increased 2.1 times, while the export increased 1.9 times, imports - 2.6 times. The foreign trade turnover balance within these years was maintained at a consistently positive level. The State Budget in recent years has been marked with a significant surplus. Summing up the year of 2011, it made up 3.6% to the GDP. This year, the surplus of the State Budget is also significant. The State budget revenues significantly exceeded the expenditures,
The existing fiscal regime promotes the positive dynamics of development of the subjects of the economic activity and the stability of the social environment. The level of the tax load on the national economy is about 22% to the GDP. The taxation provides significant benefits to the priority branches of development of the national economy. Annually salaries, pensions and welfare payment are increased (an average of 10%). The local population use electricity, natural gas, water and salt free and receive 120 liters of petrol for one car each month.
The macroeconomic indicators mentioned above will be perceived more vividly if they are supplemented with the following specific statistics.
Since 2010 till this November, 100 (!) highway bridges and interchanges were built in the Turkmen state.
84 pre-school institutions designed for 12,960 seats, 67 secondary schools for 32,712 pupils, 49 sports schools for 17,765 young sportsmen, 10 universities, 23 complexes of sports facilities and stadiums designed for 88,150 seats, five large hippodromes, 11 Centres of culture, two libraries with multi-million book funds, four museums, 35 health centers, 26 hospitals, apartment houses with a total area of 3.857 million square meters, 6,058 kilometers of communication lines were built in the country in the period.