Revenue of state budget of Turkmenistan performed at 113.5 percent
Turkmenistan, Ashgabat, April 15 /Trend H.Hasanov/
A positive performance of the state budget is marked, the revenue of which performed at 113.5 percent, expenditure - by 93.8 percent in the first quarter of 2012, the Ministry of Finance said on Saturday.
Some 70.5 per cent of the budget funds were used to implement social policy. "Protected articles of the state budget, including salaries, pensions, state benefits and student scholarships, funded in a timely manner and in full," the report said.
The Parliament of Turkmenistan approved the law "On State Budget of Turkmenistan for 2012" in which the revenues of the state budget in 2012 amounted to 74,908.4 million manat, expenses - 76398.4 million manat.
According to forecasts, budget revenues will exceed the previous figure due to higher rates of economic growth, investment activity, the modernization of material-technical base of industries, the widespread introduction in the production of highly advanced technology.
The revenue is formed by such important sectors of industrial areas as petroleum, chemical, power generation, construction. Agriculture, transport and communication sector, textile and food industries will be further developed.
Revenue increase through the development and promotion of the private sector is planned.
Significant investments will be directed for the implementation of large-scale national projects, including construction of new facilities of the national tourist zone "Avaza", the implementation of urban development program in the capital and regions of the country, the construction of important social and cultural values, industrial and transport-communications infrastructure.
1 Turkmenistan manat = 0.3508 USD