Turkmenistan Recent Economic Developments

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 p...

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Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1997, 1997
Series:IMF Staff Country Reports; Country Report
Subjects:
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Collection: International Monetary Fund - Collection details see MPG.ReNa
Summary: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.
Physical Description:134 p.
ISBN:1451837224
9781451837223