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Turkmenistan prepares draft state budget and investment programs

11 May 2019 [14:12] - TODAY.AZ

By Trend

The Ministry of Finance and Economy of Turkmenistan has been ordered to conduct work on the preparation of a number of state documents, Trend reports referring to a decree issued by the President.

These documents include the state budget, the main directions of socio-economic development and the investment program of Turkmenistan for 2020.

The draft papers shall be submitted to the Cabinet of Ministers by November 1, 2019. By June 1, 2019, calculation forms and guidelines for the preparation of the drafts should be sent to ministries, sectoral departments and the regional administration.

According to the draft law on the State Budget of Turkmenistan for 2019 adopted by the 6th convocation Turkmen Parliament, budget revenues for 2019 will amount to 83,868.3 million Turkmenistan manats (TMT), and the same amount of expenditures is planned.

The official rate of the Turkmen manat to $1 has remained at 3.50 Turkmen manats since January 2015.

The revenue part of the budget is formed mainly due to such major sectors of production as oil and gas, chemical, electric power industry, and the construction sphere.

The agro-industrial complex, the sphere of transportation and communications, the textile and food industries also will be further developed.

Turkmenistan occupies one of the key positions in the region for the supply of natural gas which is exported to China and Russia.


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