Turkmen state budget executed at 40 percent

Business Materials 15 October 2012 20:02 (UTC +04:00)

Turkmenistan, Ashgabat, Oct.15 /Trend H.Hasanov/

According to the totals of 9 months, the revenues of Turkmen state budget are executed at 139.4 percent, in the amount of 16.4 billion manat, or 41.5 per cent more than during the same period of 2011, the country's Finance Ministry reported on Monday.

The exchange rate of national currency has remained stable within the last years. $1 equals to 2.84 Turkmen manat.

The expenditure budget amounted to 10.2 manat or 95.4 per cent of planned figures. This indicator equals to 129.7 percent in comparison with the same period of last year.
Considerable part of state budget, namely 76.6 percent was contributed to development of social field.

The state budget revenue is executed at 140.6 per cent, the expenditure - at 96.9 percent. Expenditure on payments of salaries, pensions, state benefits and student stipends is fully financed.

On the account of all financing sources within the program, the plan on investment development has been executed at 79.5 percent, which is 1.6 times more than the same period of 2011.

Some 88 objects of social importance have been launched during the period, some 1420 kilometers of water lines, 506 km of sewerage, 904.7 km of highways, 123.6 km of gas pipelines, 1997.3 km of power lines, 2590.8 km of phone lines have been constructed.
It was previously reported that Turkmen Parliament approved the law on "Turkmen State Budget for 2012". The revenue of 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 production.

The revenues are 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 of 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.