This is a translation of Abdulgamid’s post on the Russian blog

In an expanded session of the Cabinet of Ministers held on February 8, the President, Gurbanguly Berdymukhamedov, delivered the Program Speech. Addressing the participants including the high-ranking officials of the economic establishments, the specialists of the planning and budgetary institutions, the economists and the chancellors of the higher educational establishments the Turkmen leader presented the agenda emphasizing that the sitting was held to discuss what trends and principles should be used to reorganize national economy, what measures should be prioritized, what should be the goals and tasks set to the economic ministries and departments and the governmental authorities. The implementation of this strategy requires the qualitative modification of the country’s investment policy by creating conditions favourable for the capital inflow and efficient investing for the entities of any kinds of property. These include further stabilization of the country’s geopolitical situation by creating transnational transportation links, free economic zones, international tourism zones and relevant economic and political institutions.

Confirming that citizens of Turkmenistan would use free gas, water, electric power and salt till 2030 Gurbanguly Berdymukhamedov informed that the state would steadily increase the investments in education, healthcare, cultural and professional development of the people, in other words ‘human capital’

In this regard, the Turkmen leader set the tasks to the newly established Ministry of Finance emphasizing that the ministry should prioritize the work on the financial recovery of national economy and national currency strengthening. Gurbanguly Berdymukhamedov said that the uniform exchange rate should be ensured in 2008, along with smooth transition to the new manta, so that neither population nor national economy would experience the hardships.

The above-mentioned objectives will be achieved in a simple and effective way by decreasing the commercial rate ($1.00 = 19 800 Manat) and its gradual adjustment to the official state exchange rate ($1.00 = 6 250 Manat). If I’d own enough money in dollars and exchange it all to Manat, I’d have enough till the end of the year.

The most difficult part is to adjust the market prices to the increasing value of Manat. If the prices for meat on a market remain the same, 40 000 Manat for a kilogram, and the exchange rate for 1 US dollar will be, say, 10 000 Manat, it will mean only that no national currency strengthening have occurred, but the population income’s gone down twice.

So, now all people of Turkmenistan have a good opportunity from day to day to watch whether the new economic reforms are successful or not – the market prices will comprehensibly show it.