Turkmen state budget’s profitable area stands at 159.3 per cent

Turkmenistan Materials 14 January 2013 12:27

Turkmenistan, Ashgabat, Jan. 14 /Trend H.Hasanov/

As of 2012, the profitable part of the Turkmen state budget hit 159.3 per cent with expenses standing at 99.8 per cent, the Turkmen Ministry of Finance said today.

Of this some 76.5 per cent of budget funds were envisaged for social areas.

It was previously reported that the Turkmen Parliament approved the state budget as of 2012. The revenue of the state budget was 74.908.4 billion manat, with expenses at 76.398.4 billion manat.

The national currency has recently remained stable. One dollar equals 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 technology in production.

Revenues are formed by such important sectors in industrial areas such 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.

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.