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WEEKLY NEWSLETTER
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Turkmenistan
Index
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
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