BAKU, Azerbaijan, February 20. Turkmenistan’s gross domestic product (GDP) will increase by 6.5 percent in 2023, Trend reports, referring to the latest economic report issued by the European Bank for Reconstruction and Development (EBRD).
The Bank also predicts that the GDP growth rate in Turkmenistan will reach 7 percent in 2024.
Furthermore, the growth rate of Turkmenistan's GDP according to the EBRD report last year amounted to 6.2 percent.
At the same time, the EBRD predicted the GDP growth in Central Asia at 4.9 percent in 2023, and 5.4 percent in 2024.
"Economies in Central Asia and the Caucasus benefitted from intermediating trade to Russia as well as inflows of capital and educated migrants from Russia," the bank added.
The European Bank for Reconstruction and Development (EBRD) is an international financial institution that has implemented more than 6,100 projects since its establishment.