Turkmen parliamentarians adopts the Law on the State Budget for 2018

Regular 25th session of the Mejlis of Turkmenistan of the fifth convocation where number of new bills and legal regulatory acts have been adopted took place on November 25. Members of the Government, leaders of relative ministries and departments and press representatives were invited to participate in the session.

According to the agenda, Draft Laws of Turkmenistan on the State Budget of Turkmenistan for 2018 and the Mejlis Resolution on the Execution of the State Budget for 2016 have been brought for the parliamentarian review.

As is known, President Gurbanguly Berdimuhamedov, speaking of the main directions of social and economic development of the country that would be accounted for in the draft of the State Budget for 2018 at the session of the Council of the Elders, highlighted that the main purpose is to achieve rapid and stable economic growth by intensive development of the industries and diversification of the economy. Considering this, the reforms stipulating the realization of large-scale important investment projects of international and regional significance will be continued.

The provision of social prosperity, protection of the rights and interests of our citizens are the key vector of the state policy of independent Turkmenistan, the Head of the State said, having noted that following this, the social policy in 2018, same as in the last years, has to be oriented to the improvement of the quality and level of life of the population. Making of the conditions for improvement of human potential based on the increase of the efficiency of health protection, education, culture and other activities related to the service sphere was defined among practical measures.

In this regards, the amounts of the financing of social sphere in the next year have to be not less that 75-80 percent of the total volume of expenditures of the State Budget of our country by the provision of income growth of the population and improvement of living conditions based on stable development of national economy, financial and social stability, President Gurbanguly Berdimuhamedov said.

The Head of the State also highlighted that it is necessary to take the measures for the state protection of maternity and childhood. The financing of the measures for efficient management of labour resources and solution of the objectives for work market, creation of the conditions for realization of the constitutional rights of the citizens for work have to take an important place in the State Budget.

In this context, during current session of the Mejlis, the speakers touching on the main principles and approaches to the elaboration of the Draft State budget focused the attention on the features of the formation of profit part, indices of economic, cultural and social development stipulated for the next year. It was mentioned that large analytical work has been performed in all branches, remarks and specific recommendations given by the Head of the State were taken into account during the development of this financial and legal document.

In general, the revenue of 2018 State Budget will make 95508.5 billion manats and the expenditures are planned within the same numbers. Such important branches of production sphere as oil, gas and chemical industry, energy, construction and other will make the revenue of the Budget. Agricultural complex, transport and communication sphere, textile and food industry will be intensively developed. Realization of large-scale state programmes expanded around the country by the initiative of President Gurbanguly Berdimuhamedov including in comprehensive industrialization of the regions, increase of import substitutive and export production, consolidation of the private sector of the economy, all of these will provide steady growth of the budget revenue.

Considerable part of the expenditure of the State Budget of Turkmenistan will be drawn for social sphere including the financing of the education, health protection, culture, sports, Government social provision system and living and municipal services. It visually indicates that the main financial document traditionally keeps social orientation and is intended to provide the growth of the prosperity of the population in accordance with the priorities of the policy pursued by Head of the State Gurbanguly Berdimuhamedov.

Large investments are allocated for the realization of large-scale national projects and programmes including the development of Avaza National tourist zone, implementation of urban construction programme in the capital and the regions of the country, construction of important social and cultural facilities, industrial, transport and communication infrastructure.

According to the Resolution of the President of Turkmenistan, there are the funds planned for 10 percent increase of the salaries, pensions, state allowances and student scholarships.

The Law on the State Budget of Turkmenistan for 2018 was unanimously adopted by the deputies of the Mejlis. The parliamentarians also unanimously voted for the adoption of the Mejlis Resolution on the Execution of the State Budget of Turkmenistan for 2016.

Source: State News Agency of Turkmenistan