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Turkmenistan: Recent Economic Developments

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  • International Monetary Fund

Abstract

This paper reviews economic developments in Turkmenistan during 1994–97. To address the growing economic difficulties, the government announced an economic reform package for 1996, which aimed at achieving a recovery in output, sharply lowering inflation, maintaining a strong reserve position, and promoting private sector development. The reform package had mixed success. Monetary and credit policy was generally restrained until late 1996, contributing to a moderation in inflation. However, economy-wide public sector wages were doubled in October, against a background of continued payment difficulties in the gas sector and a decline in GDP.

Suggested Citation

  • International Monetary Fund, 1997. "Turkmenistan: Recent Economic Developments," IMF Staff Country Reports 1997/058, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:1997/058
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    Cited by:

    1. Richard Auty, 2003. "Natural resources and ‘gradual’ reform in Uzbekistan and Turkmenistan," Natural Resources Forum, Blackwell Publishing, vol. 27(4), pages 255-266, November.

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