Despite the global COVID-19 pandemic, which has disrupted supply chains and trade ties, the economy of Turkmenistan has successfully coped with new challenges and is showing growth throughout 2021. The foreign trade turnover reached 9 billion 192 million US dollars, of which the share of exports is 5 billion 472 million US dollars, and imports - 3 billion 720 million US dollars.

“And we have a positive trade balance of 1 billion 751 million US dollars,” said Rakhimberdy Dzhepbarov, Chairman of the Board of State Bank for Foreign Economic Affairs of Turkmenistan, presenting the country's investment opportunities at a meeting with the Austrian delegation headed by Foreign Minister Michael Linhert.

As of November 1, 2021, the structure of the bank's loan portfolio was as follows: oil and gas industry - 49%, chemical industry - 18%, electricity - 11%, agriculture - 10%, transport and telecommunications infrastructure - 10%, other sectors of the economy - 2%.

Japan, South Korea, Saudi Arabia, Germany, and the USA occupy the first lines in the list of investor countries.

“The total external debt of our country does not exceed 11% of GDP, and Turkmenistan serves its debt in a timely manner and does not have an overdue amount even during a pandemic,” Dzhepbarov stressed.

According to him, in 2021 only, State Bank for Foreign Economic Affairs of Turkmenistan signed five agreements with foreign financial institutions for a total of USD 236 million. These funds will be used to finance projects in the sector of green energy, agriculture, chemistry, transport, small and medium-sized enterprises in the private sector.

In the context of developing partnerships with financial institutions and investors from Austria for the purpose of joint financing of projects implemented with the participation of Austrian companies in Turkmenistan, oil and gas, gas chemical and chemical, textile industries, agriculture, transport and telecommunications infrastructure were named as promising areas.

ORIENT news