Open menu Close menu Open Search Close search Open sharebox Close sharebox
. . Support our Sponsor

. . Flags of the World Maps of All Countries
geographic.org Home Page Countries Index

Turkmenistan Economic Structure
https://photius.com/countries/turkmenistan/economy/turkmenistan_economy_economic_structure.html
Sources: The Library of Congress Country Studies; CIA World Factbook
    << Back to Turkmenistan Economy

    Although Turkmenistan's economic situation has deteriorated somewhat since 1990, the overall standard of living has not dropped as dramatically as it has in other former Soviet republics (see table 10, Appendix). Economic reforms have been modest, and the majority of businesses remain state-owned. Thanks to government subsidies, basic food products continue to be relatively affordable despite inflation. One of the most important modifications in economic policy took effect in early 1993 when President Niyazov decreed that natural gas, water, and electricity would be supplied virtually free of charge to all homes in Turkmenistan for an indefinite period. Gasoline and other fuels also remain cheap, relative to neighboring republics. Such economic stability has been possible because Turkmenistan has a comparatively small population and it is rich in important resources such as natural gas and oil.

    The main blueprint for Turkmenistan's development is the Ten Years of Prosperity program, which was announced in December 1992. It calls for a ten-year transition to a market economy, with a first phase that maintains the Soviet system of planned management accompanied by extensive social protection programs. The program envisages development of Turkmenistan's natural resources and restructuring of industry to provide import substitution.

    Data as of March 1996


    NOTE: The information regarding Turkmenistan on this page is re-published from The Library of Congress Country Studies and the CIA World Factbook. No claims are made regarding the accuracy of Turkmenistan Economic Structure information contained here. All suggestions for corrections of any errors about Turkmenistan Economic Structure should be addressed to the Library of Congress and the CIA.

Support Our Sponsor

Support Our Sponsor

Please put this page in your BOOKMARKS - - - - -



https://photius.com/countries/turkmenistan/economy/turkmenistan_economy_economic_structure.html

Revised 12-Nov-04
Copyright © 2004-2020 Photius Coutsoukis (all rights reserved)