Macroeconomic Forecast Turkmenistan

Investment and construction activity rose by 70.0% in 2009, likely supported by the country's oil stabilisation fund. Indeed, economic growth of 6.1% was recorded in 2009, despite a sharp fall-off in exports. Going forward, we expect investments to continue growing, but likely at a slower rate than previously seen given our expectation for oil and gas exports to recover substantially in 2010. Meanwhile, we also see scope for an uptick in foreign direct investment as the country gradually opens up its economy.

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