{
  "title": "IMF Staff Concludes 2017 Article IV Mission to Turkmenistan",
  "publication": "IMF News, March 21, 2017",
  "sourceUrl": "https://www.imf.org/en/news/articles/2017/03/21/pr1791-turkmenistan-imf-staff-concludes-2017-article-iv-mission",
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  "summary": "Press Release No. 17/91",
  "publishDate": "2017-03-21",
  "sections": [
    {
      "heading": "Mission summary and timeline",
      "content": "- Press Release No. 17/91\n- March 21, 2017\n- An IMF team led by Mr. Martin Sommer visited Ashgabat during March 6-17, 2017 to hold discussions for the 2017 Article IV consultation.\n- A Board discussion is planned for May 2017.\n- PRESS OFFICER: Randa Mohamed Elnagar\n  - Phone: +1 202 623-7100\n  - Email: MEDIA@IMF.org"
    },
    {
      "heading": "Macroeconomic assessment and key findings",
      "content": "- The Turkmen economy continues to adjust to a challenging external environment, including persistently low natural gas prices and slower growth in trading partners.\n- Growth has been broadly stable recently, supported by natural gas exports and industrial policies.\n- The external current account deficit remains."
    },
    {
      "heading": "Near-term policy challenge and adjustment options",
      "content": "- The near-term key policy challenge is to re-calibrate the policy mix to reduce the sizable external imbalances.\n- Policy options highlighted:\n  - Gradual but significant cuts in public investment expenditures that remain among the highest in the world.\n  - Combine investment cuts with other policy measures which would help adjust domestic demand to a more sustainable level.\n- Design considerations:\n  - The pace and composition of policy adjustment should be designed to reduce the adverse impact on economic growth and vulnerable segments of the population."
    },
    {
      "heading": "Structural reforms and medium-term priorities",
      "content": "- Maintaining strong, sustainable, and inclusive growth will require:\n  - Improvements in the business and regulatory environment to support further private sector development.\n  - Effective implementation of reforms of state-owned enterprises and privatization.\n  - Greater efficiency of public spending.\n  - Continued focus on social protection and human development outcomes.\n- The authorities plan to embed these priorities in the upcoming 7-year development plan for 2017-23."
    },
    {
      "heading": "Data, investment climate, and IMF support",
      "content": "- Broader dissemination and improving the quality of macroeconomic and financial data would help:\n  - Enhance understanding of economic trends.\n  - Attract foreign direct investment.\n  - Ease access to the global financial markets.\n- The IMF stands ready to support the government’s reforms through policy advice and capacity building, including on:\n  - Macroeconomic statistics and forecasting.\n  - Monetary policy operations.\n  - Fiscal policy.\n\nIMF Communications Department — End-of-Mission statement issued by Mr. Martin Sommer (March 21, 2017).\n\n---\n\n\n References\n\n- Turkmenistan and the IMF\n- IMF Policy Advice -- A Factsheet\n- Press Releases\n- PRESS CENTER\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/news/articles/2017/03/21/pr1791-turkmenistan-imf-staff-concludes-2017-article-iv-mission"
    }
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    "Published: March 21, 2017",
    "Press Release No. 17/91",
    "March 21, 2017",
    "An IMF team led by Mr. Martin Sommer visited Ashgabat during March 6-17, 2017 to hold discussions for the 2017 Article IV consultation.",
    "A Board discussion is planned for May 2017.",
    "PRESS OFFICER: Randa Mohamed Elnagar",
    "The Turkmen economy continues to adjust to a challenging external environment, including persistently low natural gas prices and slower growth in trading partners.",
    "Growth has been broadly stable recently, supported by natural gas exports and industrial policies.",
    "The external current account deficit remains.",
    "The near-term key policy challenge is to re-calibrate the policy mix to reduce the sizable external imbalances.",
    "Policy options highlighted:",
    "Design considerations:",
    "Maintaining strong, sustainable, and inclusive growth will require:",
    "The authorities plan to embed these priorities in the upcoming 7-year development plan for 2017-23.",
    "Broader dissemination and improving the quality of macroeconomic and financial data would help:",
    "The IMF stands ready to support the government’s reforms through policy advice and capacity building, including on:",
    "[Turkmenistan and the IMF](http://www.imf.org/external/country/TKM/index.htm)",
    "[IMF Policy Advice -- A Factsheet](https://www.imf.org/en/about/factsheets/imf-surveillance)",
    "[Press Releases](https://www.imf.org/en/news/searchnews)",
    "[PRESS CENTER](http://presscenter.imf.org/)",
    "[https://www.imf.org/en/home](https://www.imf.org/en/home)"
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