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Turkmenistan

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Central and West Asia Department (CWRD)
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Philippines

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Turkmenistan
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Asian Development Outlook 2009

Double-Digit Growth Driven by Hydrocarbon and Public Investment

The Turkmenistan economy continued its strong double-digit growth in 2008, driven once more by production and exports of hydrocarbon products and public investment. The current account surplus more than doubled. Inflation accelerated due to the unification of the dual exchange rate, liberalization of gasoline and diesel prices, and hikes in prices of imported foodstuffs. The challenge is to diversify the economy by developing the nonhydrocarbon sector through the private sector, while overcoming legacy constraints.

Reports
Turkmenistan and ADB
Turkmenistan became a member of the ADB in August 2000 but, as of end-2007, it has yet to receive country program funding as consultations are still ongoing on the development priorities of the Government, and ADB's potential role and assistance in programs and projects. It is classified as a Group C country, making it eligible for funding from ordinary capital resources.

Learn more about ADB's partnership with Turkmenistan [ PDF ]


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