Turkmenistan prepares 2016-state budget
By Vusala Abbasova
The work is underway on preparing the state budget for 2016 for Turkmenistan, according to the Turkmenistan Finance Ministry.
The state budget will consider the presidential decree on a 10 percent increase of wages, pensions, state benefits and student scholarships starting from January 1, 2016.
The drawing up of the state budget for 2016 will aim to the financing of projects aimed at developing the priority spheres.
As in previous years, it is planned to spend significant financial resources on solving problems identified in the national, state, regional and departmental programs.
It is planned to replenish the budget revenues through privatization of state property facilities and enterprises, residential accommodation of public housing stock, as well as the distribution (sales) of bonds of the state fund (government loans).
The draft state budget will be submitted to the Cabinet of Ministers of Turkmenistan till November 1, 2015.
Turkmenistan’s state budget-2015 was approved by the Parliament, with revenues in 102.801 billion manat ($29.371 billion) and expenditures at 106.201 billion manat ($30.343 billion).
Turkmenistan holds one of the key positions in the region on natural gas supplies, mainly, to Russia, China and Iran.
The revenue part in the Turkmen state budget is mainly formed due to such sectors of the industry as oil and gas, chemical, power engineering and construction.
The agro-industrial complex, transport and communication, textile and food industries will be also intensively developed.
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