Turkmenistan’s GDP rose by 6.3% during the first half of this year, according to data presented during an extended meeting of the Cabinet of Ministers on July 12.

Deputy Prime Minister Geldimyradov highlighted several key economic indicators. Turkmenistan’s GDP growth during this period was 6.3%. Breaking down the GDP growth by sector, the industrial complex grew by 3.6%, construction by 9.3%, the transport and communications sector by 7.3%, trade by 7.8%, agriculture by 5.8%, and the services sector by 7.9%.

Additionally, the volume of production increased by 11.5% compared to the same period in 2023, while retail turnover rose by 11.1%. Wages saw an average increase of 10.4%, and there was full funding for the growth of pensions, state benefits, and student scholarships.

Minister of Finance and Economy Serdar Joraev reported on the state budget’s implementation and capital investment disbursement for the first half of 2024. As of July 1, the revenue side of the state budget was fulfilled by 102.1%, and the expenditure side by 97.7%.

Investment in the national economy increased significantly, with the volume of disbursed investments rising by 20.8% compared to the previous year. Of these investments, 48.5% were allocated to the construction of industrial facilities, while 51.5% were directed towards social and cultural facilities.