11:39 - 2.07.2024

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July 2, Fineko/abc.az. The Turkic Economic Review for the 1st quarter of 2024 has been published.

ABC.AZ reports that economic growth in Azerbaijan, along with the oil and gas sector, was observed in the non-oil sector, especially in agriculture and manufacturing.

Noticeable growth and stability of inflation were observed in the mining and construction sectors of the economy of Kazakhstan.

Kyrgyzstan has seen an increase in the inflow of foreign direct investment into the mining and service sectors.

Türkiye's economy grew by 5.7% as a result of increased domestic demand and the resumption of exports in the 1st quarter of 2024, and the unemployment rate fell to 9.8%, indicating an improvement in labor market conditions.

Turkmenistan's economy, thanks to investments in infrastructure and growth supported by gas exports, ensured fiscal stability, so that it had a budget surplus due to increased revenues from natural gas exports.

Uzbekistan recorded strong economic growth due to investments in infrastructure and production, which ensured an increase in the share of foreign resources, which strengthened the stability of the economy.

The Hungarian economy has demonstrated growth supported by industrial production and exports, reduction of public debt, and improvement of fiscal stability.

Northern Cyprus has increased its economic activity, achieving growth through tourism and construction activities.