Ashgabat, Turkmenistan, Sept. 30
By Huseyn Hasanov - Trend:
A report on drafting of the 2015 budget was presented at the last meeting of Turkmenistan's Cabinet of Ministers, Turkmen government said in a statement Sept. 29.
In order to draft the 2015 budget, the ministries of finance, economy and development are working to compile the data and calculations prepared by the ministries, sectoral departments and administrations of regions and the capital city of Ashgabat.
"A significant part of funds - 80 percent - is projected to be directed to the development of social sector," according to the message.
During the meeting Turkmen President Gurbanguly Berdimuhamedov said that "in general, the state budget's mechanism is aimed at financing the economic restructuring, boosting modernization and scientific-technical capacity, and accelerating the population's social development and social protection."
Turkmenistan holds one of key positions in the region for the supply of natural gas, which is imported by Russia, China, and Iran.
The revenues in Turkmen state budget are formed by oil and gas, chemical, power generation, and construction sectors.
The budget also includes a progressive development of agriculture, transportation, communication sectors, and textile and food industries.
The state budget revenues are expected to continue growing due to both further development and the support to non-government form of ownership.
In the 2014 state budget, approved by Turkmenistan's parliament, the revenues stand at 94,129.1 million Turkmen manats, while expenses amount to 97,829.1 million manats.
Between January and August 2014, the state budget revenues were 118.2 percent and expenditures - 96.9 percent.