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Economic instruments and financing of environmental protection

Turkmenistan has experienced strong and sustained economic expansion over the past decade. According to official statistics, real GDP rose at an average annual rate of nearly 13 per cent during 2000-2010. Rapid economic growth led to a considerable increase in average real per capita income, which tripled over this period. The World Bank classifies Turkmenistan as a middle-income country. The production and export of hydrocarbons, especially natural gas, has become the major engine of growth, accounting for 90 per cent of total merchandise exports in 2008. Another important driver of economic growth in recent years has been construction activity (residential and office buildings and other public infrastructure). Turkmenistan is also a major exporter of cotton. As the economy relies on hydrocarbon resources to a very large extent, diversification of economic activity is a major policy priority. The goal of diversification of industrial activity is complemented by the target of achieving self-sufficiency in food supply.

Related Subject(s): Environment and Climate Change
Countries: Turkmenistan
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