Current Account in Turkmenistan
Turkmenistan - Current AccountAfter a probable contraction in Q2 as the fallout from the pandemic took its toll, the economy seemingly recovered somewhat but remained broadly downbeat in Q3, as the restrictions imposed in July likely hurt domestic activity. However, momentum should have been supported by recovering Chinese demand and higher prices for oil and gas. Going into Q4, the ongoing global rise in Covid-19 cases poses a downside risk to external demand and energy prices. In other news, parliament approved the 2021 budget in October, 70% of which is reportedly set aside for social spending. Moreover, the plan pencils in a 10% rise in wages, state benefits, pensions and student allowances, and envisions 6.2% GDP growth for 2021—well above our 4.8% forecast.
Turkmenistan - Current Account Data
|Current Account (% of GDP)||-15.6||-20.2||-10.4||5.5||-|
5 years of economic forecasts for more than 30 economic indicators.
Turkmenistan Current Account Chart
|Exchange Rate||3.50||0.01 %||Jan 01|
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