Profitable part of Turkmen state budget hits 112 percent

Turkmenistan Materials 6 May 2014 15:54 (UTC +04:00)

Ashgabat, Turkmenistan, May 6

By Huseyn Hasanov - Trend:

As of January-April 2014, the profitable part of the Turkmen state budget amounted to 112.9 percent, the Turkmen Ministry of Finance said on May 5.

"The reporting period was marked by the successful execution of the state budget," according to the statement. "So, the revenue part of the country's main financial plan hit 112.9 percent, while expenses were 96.9 percent."

The figures for using the investments through all sources of funding for the period are characterized by resistance, according to the report.

The ratio of current macroeconomic index to gross domestic product (GDP) was 38.9 percent.

The income hit 94.129.1 billion manats, and expenses - 97.829.1 billion manats in the Turkmen state budget-2014 approved by the parliament. The official rate of the manats to one dollar has recently remained at 2.85 Turkmen manats.

The profitable part in the Turkmen state budget is formed by such sectors as oil and gas, chemical, power engineering and construction. The budget envisages the ongoing development of agro-industrial complex, transport, communication, textile and food sectors.

The revenues are expected to grow at the expense of further development and support for the activity of non-state enterprises. Turkmenistan holds one of the key positions in the region on natural gas supplies. Russia, China and Iran are importers.

translated by NH
edited by CN