Turkmen state budget’s profitable section executed at 115 percent

Business Materials 7 May 2012 18:02 (UTC +04:00)

Turkmenistan, Ashgabat, May 7 / Trend H. Hasanov /

The profitable section of the Turkmen state budget by 115 percent, while the expenses reached only94 percent of the estimates figures, the Finance Ministry said today.

It was previously reported that Majlis (Turkmen Parliament) approved the law on "Turkmen State Budget for 2012". The profitable part in the state budget of 2012 was 74.908.4 billion manat, expenses - 76.398.4 billion manat.

According to the 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 of highly advanced technologies in the

The profitable part is formed by such important sectors of industrial areas as oil and gas, chemical, power engineering, construction. The agroindustrial complex, transport and communication sector, textile and food industries will be further developed.

The revenues are planned to be increased by developing and stimulating the activity of the private enterprises.

The significant investments will be spent to implement large-scale national projects, including the construction of new facilities of the national tourist zone "Avaza", the implementation of urban development program in the capital and provinces of the country, the construction of important social and cultural facilities​​, industrial and
transport-communications infrastructure.