Turkmen Parliament approves State Budget for 2012
Turkmenistan , Ashgabat, Oct. 3 / Trend, H.Hasanov /
The Parliament of Turkmenistan approved the law on "State Budget of Turkmenistan for 2012" and resolution on "Execution of 2010 state budget of Turkmenistan".
According to local media reports, the 2012 state budget's major task is the "significant investment for sustaining high level economic development".
The state budget revenues will amount to 74.9 billion manat in 2012, while its expenses will total 76.4 b illion manat.
The budget revenues are expected to exceed the relevant figure of 2011 due to higher rates of economic growth, investment activity, upgrading logistics basis of economic fields and wider introduction of modern highly remunerative technology in production.
The state budget revenue will be formed based on critical fields such as industrial sector as oil and gas, chemical, electricity and construction. Agriculture, transport and communication sectors, textile and food industries will also develop.
Development and encouragement of enterprises in private sector of economy will become a nother incentive to increase in revenues in 2012.
In 2012, the state public expenditure will increase due to the further intensification of the country's socio-cultural spheres.
It is planned to significantly invest in realization of large-scale national projects, including construction of new objects of the national tourist zone Avaza, the implementation of
urban development program in the capital and the provinces, the construction of important social and cultural objects , industrial, transport and communication infrastructure.
Edited by: A.Badalova