Turkmen Parliament adopts the State Budget for 2019

State News Agency of Turkmenistan / 01.12.2018 / In the spotlight

The fourth session of the Mejlis of Turkmenistan of the sixth convocation, during which number of new laws and legal acts has been adopted, was held. Members of the Government, heads of relative ministries and departments, representatives of press have been invited to participate in the session.

According to the agenda, draft Law on the State Budget of Turkmenistan for 2019 and Draft Resolution of the Mejlis of Turkmenistan on the Execution of the State Budget of Turkmenistan for 2017 have been brought out for review by the deputies.

Speaking of the main directions of social and economic development of the country, which have to be taken into account in the draft of the State Budget for 2019 at the first session of the People's Council in September, the Head of the State highlighted that the main goal is to support stable high rates of economic growth by raid development of the industry and diversification of the economy, implementation of largescale investment projects that have international and regional importance.

Social policy in 2019 has to be aimed at the improvement of life and quality level of the population, creation of the condition for development of human capital. Reforms in scientific and education sphere, health protection, culture and sports are to be practical measures in this direction.

The President of Turkmenistan also highlighted that provision of social protection of the population by the increment of salary wage, pension and student scholarships are important objective. The state has to take the measures for protection of maternity and childhood. In this regard, the volume of the investment to social sphere has to be not less than 75 80 percent of total expenditures of the State Budget.

In this regard, speaking of the main principles and approaches to the development of the draft State budget of the country for 2019, the presenters focused on special features of the formation of the revenue part of the budget, indicators of economic, cultural and social development at the session of the Mejlis. It was mentioned that big analytical work has been carried out in all branches and remarks and specific recommendations of the Head of the state have been taken into consideration.

In general, the revenue of the State Budget for 2019 will be 83,868,300,000 manats, the expenditures of the Budget will be to the same amount. The revenue of the Budget will be mainly formed up by such important branches of production sphere as oil and gas, chemical industries, electrical energy, construction and other. Agricultural complex, transport and communication spheres, food and textile industries will receive its further intensive development. Implementation of largescale state programmes including on integrated industrialization of the regions, growth of production volumes of import substitutive and export goods. Strengthening of private sector of the economy, all of these will provide steadfast income growth of the budget.

It has been mentioned that significant part of the expenditures of the State Budget of Turkmenistan is used for social sphere including for financing of education, health protection, culture, sports and system of the state social provision. It visually indicates that the main financial document traditionally keeps social oriented concept and is to provide the growth of the wealth of the population.

Significant investments are planned for the implementation of largescale national projects and programmes including for change of living conditions in rural areas, development of Avaza National tourist zone, construction of important social and cultural facilities, industrial, transport and communication infrastructure.

According to the Decree of the President of Turkmenistan, the funds for 10 percent increment of salary wages, pensions, state allowance, scholarships are budgeted.

The Law on the State Budget of Turkmenistan for 2019 was unanimously adopted by the deputies of the Mejlis. The parliamentarians have also unanimously voted for the adoption of the Resolution of the Mejlis of Turkmenistan on the execution of the State Budget of Turkmenistan for 2017.

Source: Turkmenistan: the Golden Age Online Newspaper