Turkmen president: important to up manat's purchasing power
Ashgabat, Turkmenistan, May 16
By Huseyn Hasanov – Trend:
President of Turkmenistan Gurbanguly Berdimuhamedov said at a government meeting that one of the priority tasks is to systematically increase the purchasing power of the national currency – Turkmen manat, the Neutral Turkmenistan newspaper reported.
The head of state noted the need to increase the quality of banking services, introduce best practices and innovative technologies, develop new financial instruments, etc.
The Turkmen Ministry of Finance insufficiently controls the financial condition of state institutions and, as a result, most of them are late on budget calculations, according to Berdimuhamedov.
“Debt of ministries and institutions is growing. Consequently, numerous sectors do not develop at the proper level,” the president said.
Turkmenistan has embarked on a policy of gradual transition to the market economy. A number of measures, including denomination of the national currency and switching to the international accounting standards, have been implemented in the country.