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Turkmenistan approves state budget for 2016

Business Materials 23 November 2015 16:59 (UTC +04:00)
The Majlis (Parliament) of Turkmenistan has adopted the law on the state budget for 2016
Turkmenistan approves state budget for 2016

Ashgabat, Turkmenistan, Nov. 23

By Huseyn Hasanov- Trend:

The Majlis (Parliament) of Turkmenistan has adopted the law on the state budget for 2016, said the message of the government.

Turkmen state budget revenues in 2016 will amount to 102 479 billion Turkmen manats, expenses - 104.879 billion manats. The official rate of the Turkmen manat to one US dollar since January 2015 remains at 3.5 Turkmen manats.

As in previous years, the state budget of Turkmenistan for 2016 is aimed primarily at maintaining the stable growth of the national economy, implementation of major investment projects, widespread introduction of innovative technologies, latest achievements of science and technology in all spheres, providing high efficiency of public spending, according to the information.

The profitable part in the Turkmen state budget will be formed by such sectors as oil and gas, chemical industry, power engineering and construction. The agro-industrial complex, transport and communication, textile and food industries will be also intensively developed.

In the future, revenue growth is also planned through the increase in the activity efficiency of enterprises of the non-government sector of the economy.

Solid investments are provided for the implementation of large-scale national projects and programs, including developing the national tourist zone "Avaza", implementation of the urban development program in the capital and the provinces (regions) of the country, construction of important social and cultural objects of industrial, as well as transport and communications infrastructure.

Turkmenistan holds one of the key positions in the region on natural gas supplies. Russia, China and Iran are importers.

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