Turkmengaz fully repays loan to China Development Bank

The announcement was made at a meeting of the Cabinet of Ministers of Turkmenistan chaired by President Berdimuhamedov.

On June 11, in Ashgabat President of Turkmenistan Gurbanguly Berdimuhamedov held a Cabinet meeting. The Deputy Prime Minister in charge of the fuel and energy complex, Shahym Abdrahmanov, reported on the situation with the repayment of loans by the Turkmengaz State Corporation, as reported by «Turkmenistan Today».

The official stressed that the largest gas production and gas distribution company of the country had allocated the funds to implement several projects aimed at diversifying the supply of Turkmen gas abroad, the construction of the Turkmenistan-China gas pipeline and the development of a large gas field — Galkynysh.

According to Abdrahmanov, on June 8, Turkmenistan received an official notification from the Xinjiang branch of the China Development Bank regarding the full repayment of the loan.

Earlier Yuri Aronsky, head of the Union of Economists of Turkmenistan, member of the Coordination Council of the International Union of Economists said that the authorities of Turkmenistan do everything necessary to ensure permanent economic growth.

According to him, since 1991, a high share of accumulation has been observed in the GDP of the state. The expert noted that it is related to the need of reducing dependence on the oil and gas sector, the transition from a resource to an industrial-resource economy. The expert marked that this process requires significant funds, some of which are taken from savings.

Aronsky drew attention to the fact that the savings allow Turkmenistan to maintain stability and ensure growth in the economy in various critic situations, in particular amid the pandemic.

14 июн 2021, 08:37
Photo source: tdh.gov.tm

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