Turkmenistan exceeds planned revenues for state budget in 2020

Finance Materials 11 February 2021 11:14 (UTC +04:00)
Turkmenistan exceeds planned revenues for state budget in 2020

BAKU, Azerbaijan, February 11

By Jeila Aliyeva - Trend:

The plan for revenues of the State Budget of Turkmenistan was exceeded by 0.1 percent, and the expenditure part was fulfilled by 99.9 percent in 2020, said Minister of Finance and Economy of Turkmenistan Mukhammetgeldi Serdarov, Trend reports with reference to Turkmenistan’s State News Agency.

Serdarov made this remark at a working meeting held by Turkmenistan's President Gurbanguly Berdimuhamedov.

The plan for local budget revenues for the reporting period was exceeded by 2.2 percent, while plan for expenditures reached 99.9 percent.

During the past year, 119 meetings of the balance sheet commissions were held, including 104 regional ones. During the reporting period, 85 units of state property were privatized.

The volume of investments allocated for the development of the national economy at the expense of all sources of financing amounted to 22.4 percent of GDP. The investment program for 2020 was exceeded by 2.4 percent, while 55.7 percent of capital investments were spent on industrial facilities, and 44.3 percent on social facilities.

The minister also said about the progress of the work defined in the new edition of the national program of president of Turkmenistan for the transformation of social and living conditions of the population of villages, towns, cities of districts and district centers for the period up to 2020.

As it was reported earlier, the work is underway to introduce digital technologies into the Turkmenistan’s banking sector.

The introduction of digital technologies into the banking sector of the country will expand the range of banking services and the capabilities of the national payment system provided to customers, as well as increase the competitiveness of credit institutions.

In general, the country's financial sector is constantly expanding. In particular, mobile applications are being introduced to pay for various services and goods, the number of non-cash payments is increasing, and payment for goods and services is being implemented through banking terminals.

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