President of Turkmenistan Gurbanguly Berdimuhamedov chaired an enlarged meeting of the Cabinet of Ministers, during which the work done in the economic sectors in the first quarter of the year was evaluated and a number of important issues of the domestic policy were considered.
The Deputy Chairmen of the Cabinet of Ministers and the heads of the departments and the regions presented the reports.
The macroeconomic indicators for January-March illustrated stable and dynamic growth of GDP. Industrial production growth rate in January-March made 112 per cent as compared to the same period in 2014.
The steady pace of construction and reconstruction of large-scale facilities of the oil and gas, chemical, electric power, agro-industrial, transport, communications, trade and services sectors was observed in the first quarter of the year. The construction of social, housing and infrastructure facilities were underway in all the regions of the country. Complex measures were taken to promote the private sector of the national economy.
In the reporting period the revenues of the State Budget were implemented at 104.4 per cent and the expenditures – 91.2 per cent. 77.3 per cent of budgetary funds were directed to the social sphere.
The revenues of the local budget were implemented at 103.7 per cent and the expenditures - 93.6 per cent.
The Turkmen leader focused on the need to further optimize organisational and management activities in the financial sector. Noting that the main objectives of the economic strategy include the maintenance of financial stability and macroeconomic equilibrium which can be achieved through the effective use of economic resources, President Gurbanguly Berdimuhamedov gave specific instructions in this regard.
Production of oil and gas condensate increased to 110 per cent, natural and associated gas - 105 per cent, ‘blue fuel’ exports to foreign countries - 106.5 per cent. The oil refining plan was implemented at 103.6 per cent. The production rate of petroleum products, including gasoline, polypropylene, lubricants and liquefied gas, rose as compared to the same period in 2014. The volume of drilling operations rose by 76.8 per cent. The Ruhabat pipe plant increased the production of polyethylene and fibreglass pipes; the production growth rate made 108.3 per cent.
The President relieved Minister of Education G. Mammedova from the post and appointed P. Agamyradov as Minister of Education and relived him of the post of Rector of Turkmen State Institute of Economy and Management. S. Ataeva was appointed as Rector of the Institute of Economy and Management.
Addressing the meeting participants and summing up the discussion of the work done in the economic sectors in the first quarter of the year, the President noted with satisfaction that the reforms aimed at further improving the standard of living of Turkmen citizens continued to be implemented in our sovereign motherland. Gross domestic product continued to grow; GDP growth rate made 10 per cent.
The volume of investment spent on the development of various sectors of the national economy rose by 5.2 per cent as compared to the same period in 2014. The salary growth rate made 110 per cent. The share of industry in GDP increased as compared with the same period in 2014; the growth rate made 10.2 per cent. The growth rate in the building industry made 11.1 per cent. The trade, transport and communications and services sectors developed rapidly.
The Turkmen leader said that over 2,000 large-scale facilities with the total value of over US$ 50 billion were currently under construction throughout the country. All the industrial and social facilities, including over 184,000 square metres of housing area, including apartment houses with modern conveniences, health promotion and entertainment centres, kindergartens, etc., planned for the first quarter of the year had been built and put into operation.
Emphasis was placed on the importance of developing the State Programme for import substitution industrialization and the State Programme for the enhancement of export of goods produced in Turkmenistan. In this context, President Gurbanguly Berdimuhamedov said that our country had the tremendous resource potential which should be used effectively.
The Turkmen leader specified the main objectives to be achieved by the managerial personnel in all the sectors of the national economy.
Other issues were discussed and the decisions were adopted during the enlarged meeting of the Cabinet of Ministers.
The Deputy Chairmen of the Cabinet of Ministers and the heads of the departments and the regions presented the reports.
The macroeconomic indicators for January-March illustrated stable and dynamic growth of GDP. Industrial production growth rate in January-March made 112 per cent as compared to the same period in 2014.
The steady pace of construction and reconstruction of large-scale facilities of the oil and gas, chemical, electric power, agro-industrial, transport, communications, trade and services sectors was observed in the first quarter of the year. The construction of social, housing and infrastructure facilities were underway in all the regions of the country. Complex measures were taken to promote the private sector of the national economy.
In the reporting period the revenues of the State Budget were implemented at 104.4 per cent and the expenditures – 91.2 per cent. 77.3 per cent of budgetary funds were directed to the social sphere.
The revenues of the local budget were implemented at 103.7 per cent and the expenditures - 93.6 per cent.
The Turkmen leader focused on the need to further optimize organisational and management activities in the financial sector. Noting that the main objectives of the economic strategy include the maintenance of financial stability and macroeconomic equilibrium which can be achieved through the effective use of economic resources, President Gurbanguly Berdimuhamedov gave specific instructions in this regard.
Production of oil and gas condensate increased to 110 per cent, natural and associated gas - 105 per cent, ‘blue fuel’ exports to foreign countries - 106.5 per cent. The oil refining plan was implemented at 103.6 per cent. The production rate of petroleum products, including gasoline, polypropylene, lubricants and liquefied gas, rose as compared to the same period in 2014. The volume of drilling operations rose by 76.8 per cent. The Ruhabat pipe plant increased the production of polyethylene and fibreglass pipes; the production growth rate made 108.3 per cent.
The President relieved Minister of Education G. Mammedova from the post and appointed P. Agamyradov as Minister of Education and relived him of the post of Rector of Turkmen State Institute of Economy and Management. S. Ataeva was appointed as Rector of the Institute of Economy and Management.
Addressing the meeting participants and summing up the discussion of the work done in the economic sectors in the first quarter of the year, the President noted with satisfaction that the reforms aimed at further improving the standard of living of Turkmen citizens continued to be implemented in our sovereign motherland. Gross domestic product continued to grow; GDP growth rate made 10 per cent.
The volume of investment spent on the development of various sectors of the national economy rose by 5.2 per cent as compared to the same period in 2014. The salary growth rate made 110 per cent. The share of industry in GDP increased as compared with the same period in 2014; the growth rate made 10.2 per cent. The growth rate in the building industry made 11.1 per cent. The trade, transport and communications and services sectors developed rapidly.
The Turkmen leader said that over 2,000 large-scale facilities with the total value of over US$ 50 billion were currently under construction throughout the country. All the industrial and social facilities, including over 184,000 square metres of housing area, including apartment houses with modern conveniences, health promotion and entertainment centres, kindergartens, etc., planned for the first quarter of the year had been built and put into operation.
Emphasis was placed on the importance of developing the State Programme for import substitution industrialization and the State Programme for the enhancement of export of goods produced in Turkmenistan. In this context, President Gurbanguly Berdimuhamedov said that our country had the tremendous resource potential which should be used effectively.
The Turkmen leader specified the main objectives to be achieved by the managerial personnel in all the sectors of the national economy.
Other issues were discussed and the decisions were adopted during the enlarged meeting of the Cabinet of Ministers.