Azernews.Az

Turkmenistan's President Gurbanguly Berdimuhamedov has instructed the government to ensure the timely preparation of the draft state budget for 2014, according to the country's media.

"Speaking about the importance of continuing the work focused on improvement of the country's financial and economic institutions as well as banking sector, the President of Turkmenistan made a number of specific instructions in this regard," a statement says.

The order and timing of reports and information that must be provided by the ministries, branch departments and khakimliks (local authorities) for compiling the state budget for next year are being determined at the current stage, the statement said.

According to the report, the revenue of the state budget of Turkmenistan will be formed at the expense of industries such as oil and gas, chemical, power generation, construction. The ongoing development of agricultural industry, transport, communication, textile and food industries is also considered.

It is expected that revenues will continue to grow through further development and support of private businesses.

The parliament of Turkmenistan approved the 2013 state budget with revenues of over 86.335 billion manats and expenditure worth about 89.735 billion manats. In recent years, the official rate of the currency remains at 2.85 Turkmen manats per dollar.