Turkmen state budget’s profitable part overfulfilled by 50 per cent

Business Materials 13 December 2012 18:03 (UTC +04:00)

Turkmenistan, Ashgabat, Dec. 13 /Trend H.Hasanov/

As of eleven months of 2012, the profitable part of the Turkmen state budget has been executed at 149.3 per cent with expenses by 96.2 per cent, the Turkmen Ministry of Finance said today.

The revenue growth was 41.3 percent, while expenditure - 28.8 percent compared to the same period in 2011. The plan on transferring foreign currency to the accounts of ministries and departments of the country due to the export of goods and services during the reporting period has been executed at the level of 144.2 percent.

Around 122 social facilities were constructed in the regions and villages of the country during the reporting period, that is, the plan has been executed by 132.6 percent. Around 9.714.3 kilometers of engineering communication (150.7 percent) have been laid. Around 734,400 square meters of residential area (147.4 percent) were built.

It was previously reported that the Turkmen Parliament approved the law on the 'Turkmen State Budget for 2012'. The revenue of the state budget of 2012 was 74.908.4 billion manat, expenses at 76.398.4 billion manat.

The national currency has recently remained stable. One dollar equals to 2.84 Turkmen manat.

According to the forecasts, budget revenues will exceed the previous figure due to higher rates of economic growth, investment activity and the modernisation of the industrial material and technical base as well as the widespread introduction of highly advanced technologies in production.

Revenues are formed by such important sectors of industrial areas as oil and gas, chemical, power engineering and construction. The agro-industrial 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 private enterprises.

Significant investments will be spent to implement large scale national projects, including the construction of new facilities at the national tourist zone of Avaza, the implementation of an urban development programme in the capital and provinces of the country, the construction of important social and cultural facilities and the industrial and transport communications infrastructure.