In February 2024, the government of Turkmenistan announced an increase in state purchasing prices for wheat and cotton with the aim of boosting agricultural productivity and incentivizing farmers. This move, which marks...
In 2023, Turkmenistan exceeded its job creation target by nearly threefold, generating 7,607 new jobs compared to the planned 2,688, reports Orient. After having examined this data closely and put in light of the...
Salaries in Turkmenistan are set to increase by 10% starting from January 1, 2024 according to President Serdar Berdimuhamedov’s decree. This once a year, regularly planned raise will include salaries of the...
The Asian Development Bank (ADB), established in 1966 and owned by 68 members, is dedicated to promoting prosperity, resilience, and sustainability across Asia and the Pacific. Turkmenistan became an ADB member in 2000...
Turkmenistan operates on a two-tier banking system, with the State Central Bank as the primary tier and commercial banks as the secondary tier. As the dominant financial institution in the nation, the Central Bank was...
According to the Bertelsmann Foundation Turkmenistan has an underdeveloped tax system, which is negatively impacted by widespread corruption. The state revenues remain dominated by proceeds from gas exports and the...
Turkmenistan is in the midst of the WTO accession process as it hopes to become a full member of the World Trade Organization. On November 24, 2021, Turkmenistan submitted its application to join the organization and on...
On 4 April 2023, Turkmenistan launched the Trade Information Portal with the aim of guiding both the local and foreign entrepreneurs through the import, export, and transit procedures. The development of this Portal was...
The Swiss bank UBS, which completed its acquisition of a struggling bank Credit Suisse, implemented stringent measures for Credit Suisse bankers, which prohibits them from accepting new clients from high-risk countries...
American think-tank the Heritage Foundation computes the “Index of Economic Freedom” on an annual basis. The foundation’s report for 2023 includes a short chapter on Turkmenistan’s performance with regards to economic...
