Findings of the UN Country Analysis Briefed at Second Coordination Meeting of the Sustainable Economy and Finance Working Group

The gathering provided an opportunity to update participants on the current and upcoming initiatives of the SEF Working Group, which aims to foster long-term, inclusive economic growth, and promote financial stability in Turkmenistan. Central to the discussions were strategies for strengthening cooperation and fostering dialogue between national and international actors to tackle the challenges facing the country's economy.

A key highlight of the meeting was the briefing by Mr. Vladimir Valetka, economist at the UN Resident Coordinator’s office, who presented the findings of the recent UN Country Analysis. His presentation underscored positive socioeconomic developments in Turkmenistan, while also identifying key challenges hindering inclusive economic growth. These insights were pivotal in guiding the group’s discussions on future strategies and potential areas for joint collaboration. Additionally, Mr. Valetka highlighted the findings of the joint SDG gaps analysis resulted with estimates* that Turkmenistan would require 46.1 billion manats (USD 13 billion) in additional government funding during 2026–2030 to progress on the prioritized SDG transitions aimed at meeting National Commitments to SDG Transformation in Turkmenistan, announced at the SDG Summit in 2023. This translates to 2.8% of GDP annually during 2026–2030. Mr. Valetka outlined the UN’s programming responses in partnership with the government and other stakeholders, designed to address these challenges and unlock new avenues for sustainable development. The UN Funding compact was presented to the embassies representing the UN Member States as a critical tool to ensure predictable and flexible funding for UN development activities, crucial for achieving the SDGs.

Participants were also provided with an overview of the Programme for Socio-Economic Development of Turkmenistan: Priorities and Investments 2025, which outlines the country's key development priorities and strategic investments for the coming years. The meeting also covered initiatives related to Turkmenistan's ongoing process of accession to the World Trade Organization (WTO), a critical step in integrating the country more fully into the global economic system.

In conclusion, the Second Coordination Meeting of the SEF Working Group served as a vital platform for implementing the Funding Compact and strengthening partnerships between the UN, the U.S. Embassy, the Government of Turkmenistan, and other international actors. It was stressed that the commitments of the Funding Compact were agreed to be implemented by Member States and UN entities at a global, regional, and country level. The discussions highlighted the importance of continued cooperation, policy innovation, and collective action to drive sustainable economic and financial development in Turkmenistan, ultimately supporting the country’s efforts to achieve inclusive growth and greater integration into the global economy. 

*The findings were discussed with the Government at a dedicated side event at the Turkmenistan Investment Forum (September 2024), and at UNSDCF Steering Committee meeting in December 2024.

See below files, accordingly:

1. CCA 2024 CF areas
2. CCA report CSU
3. LNOB
4. SDG Financing Gaps in Turkmenistan
5. Funding compact