Turkmenistan’s state budget bulges by 3.6%

Business Materials 10 March 2015 17:56 (UTC +04:00)

Ashgabat, Turkmenistan, Mar. 10

By Huseyn Hasanov - Trend:

The revenue part of Turkmenistan's state budget was fulfilled in Jan.-Feb. 2015 by 103.6 percent, while the expenditure part was fulfilled by 90.7 percent, according to a message from the Finance Ministry of Turkmenistan.

"Meanwhile, 79 percent of the budget funds were directed at the development of the social sphere. Wages, pensions, state benefits and student scholarships were paid timely," the message read.

In the state budget approved by Turkmenistan's parliament for 2015, the revenues are set at 102,800.8 million Turkmen manats, and the expenses - at 106,200.8 million Turkmen manats.

The official exchange rate in Turkmenistan has remained since January 2015 at 3.50 Turkmen manats per $1.

Turkmenistan holds a key position in its region in terms of supply of natural gas, which is imported by Russia, China and Iran.

Turkmen budget's revenue part will be formed in 2015 mainly with help of such important sectors as oil and gas, chemicals, electric power, construction.

The agro-industrial complex, transportation and communication sectors, textile and food industries will also see further intensive development.

Edited by CN