Macroeconomic Forecast Turkmenistan

According to recent data released by the State Committee of Turkmenistan on Statistics, total investments in fixed capital grew by 57% y-o-y in the first quarter of 2010 while foreign investment only increased by 2.2% y-o-y. We believe that this positive trend is set to continue for now given than the state uses a large proportion of the revenues received from hydrocarbon exports to support state-run investment projects.

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