Turkmenistan publishes data on state budget execution

Finance Materials 13 April 2019 11:57 (UTC +04:00)

Ashgabat, Turkmenistan, April 13

By Huseyn Hasanov – Trend:

As of April 1, 2019, the revenue part of the state budget was executed at the level of 104.7 percent, and the expenditure part at 84.3 percent, Trend reports referring to the Turkmen government.

The volume of funds aimed at the development of the national economy at the expense of all sources of financing, in relation to the gross domestic product (GDP) in the first quarter of 2019 was 22.3 percent. The investment program for the reporting period was fulfilled at 12.9 percent.

The Turkmen Parliament of the 6th convocation adopted the draft law "On the state budget of Turkmenistan for 2019". In general, the revenues and expenditures of the state budget in 2019 are both in the amount of 8.3868.3 million manats.

The official exchange rate of the Turkmenistan manat to $1 from January 2015 remains at the level of 3.50 Turkmen manats.

The revenue part of the budget is formed mainly by such major sectors of the production sphere as oil and gas, chemical, electric power industry, construction, with the agro-industrial complex, the sphere of transport and communications, the textile and food industries also to receive further development.

Turkmenistan holds one of the key positions in the region in terms of the supply of natural gas. China and Iran are importers of Turkmen gas. At the same time, Russia, the traditional buyer, stopped buying Turkmen gas in 2016, though negotiations on resuming Russian purchases of gas are underway.