Turkmenistan

Turkmenistan’s economic growth has been impressive, with real GDP per capita tripling between 2000 and 2015, moving the country to upper-middle-income status, thanks largely the exploitation and export of natural gas. While data on poverty levels are unavailable, it is clear that the standard of living of the population has improved considerably (World Bank 2014). Natural gas revenue enables the government to provide electricity, gas, and water to the entire population free of charge. Prices of other basic consumer goods are also subsidized. Despite resulting distortions, low prices have generally improved the standard of living and secured the approval of the administration among the citizenry. In addition, natural gas exports have allowed Turkmenistan to accumulate large foreign exchange reserves, although their magnitude is difficult to ascertain, and thus to maintain a currency peg to the US dollar. Investment has been high as well, although many of the projects are of questionable usefulness in promoting diversification and inclusive growth.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Partnerships for the Goals