Turkmenistan preparing state budget for 2016

The preparation of the state budget of Turkmenistan for 2016 continues, the Turkmen finance ministry said.

“While drawing up the financial plan, peculiar attention was paid to the financing of projects aimed at development of priority spheres,” said the ministry's report.

The state budget considered the presidential decree on a 10 percent increase of wages, pensions, state benefits and student scholarships starting from January 1, 2016, according to the ministry.

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).

According to the state budget for 2015 approved by the Turkmen parliament, the income was 102.800 billion manat, while expenses – 106.200 billion manat.

The official rate of the manat to US dollar has remained at 3.50 Turkmen manat since January 1, 2015.

Turkmenistan holds one of the key positions in the region on natural gas supplies. Russia, China and Iran are importers.

The profitable part in the Turkmen state budget is formed by such sectors 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.

/By Trend/