Economic growth is a powerful future

Economic development is one of the important factors for any society. Because this is one of the most important issues of the socio-economic condition of the people, regardless of the social structure. Economic development means the quantitative increase and qualitative improvement of the social product and the conditions of its production. There are extensive and intensive forms of economic development.

When the development of production is carried out based on the quantitative increase of its conditions, it is called extensive economic development. In that case, the technical or quality level of those conditions remains the same. If the conditions for expanding production are sufficient, then extensive development can be carried out easily. Extensive development creates favorable conditions for the rapid exploitation of natural resources and the improvement of employment of the population.

When the increase in the volume of manufactured products is achieved as a result of the quality improvement of production conditions, then this is an intensive form of economic development. Intensive growth can also come at the expense of improving the utilization of production conditions. It envisages better utilization of labor resources and efficient use of labor objects, higher professional training of the worker and improvement of utilization of existing production capacities. In the conditions of intensive development, it is not necessary to create enterprises with new capacities in order to increase the volume of production. Thus , it is enough to improve production and use all resources more regularly.

Both types of economic development are interrelated. In financial life, not one or the other broad nor intensive development ways are found in their immaculate frame alone. They are always implemented mutually compatible. But at a certain stage of the development of social production, either the intensive or the extensive direction may predominate. It is one of the main laws that act as one of the crucial problems of the finance.

As an example of the combined implementation of both types of economic development, the economic development of Independent and eternally Neutral Turkmenistan can be shown. It had been left over from the former USSR with an economy specializing in the production of raw materials. The raw materials had produced in the country had would be processed outside its borders, and had finished products had would be consumed.. We had almost no factories. Small businesses were created when there was a greater need. The increase in the volume of products is achieved due to the improvement of the quality of the labor force and the means of production and their utilization. The development of production is carried out on the basis of its conditions, that is, the increase in the number of employees and the amount of production resources.

Under the wise leadership of our Honorable President, the Arkadagly Hero Serdar the successful implementation of the current strategy plays an important role in the further development of the economic power of Turkmenistan and in achieving recognition of the strong Motherland as a politically and economically stable developing country. The results achieved in the smooth development of our national economy are primarily rooted in our great Independence and Neutrality, which is the foundation of our statehood.

Berdigylych YAZMYRADOV,
student of the Institute of International Relations
of the Ministry of Foreign Affairs of Turkmenistan.


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