On Saturday, 30 November, at the regular session of the Mejlis of Turkmenistan, the Law “On the State Budget of Turkmenistan for 2025” and the Resolution of the Mejlis “On the execution of the State Budget of Turkmenistan for 2023” were adopted.
The Law of Turkmenistan “On the State Budget of Turkmenistan for 2025” is aimed primarily at maintaining sustainable economic growth rates of industries and regions, realizing the potential of Turkmenistan, and ensuring high efficiency of public spending.
The key areas of state budget expenditures will be the major sectors of the economy: the oil and gas industry, the agriculture, transport, communications, construction, textile and food industries.
In the social sphere, significant funds will be directed to improving the level and quality of people’s lives, the effectiveness of employment, health, education, culture, youth policy and social protection of the population.
In addition, it is planned to increase salaries, pensions, allowances and student payments in accordance with the Decree of the President of Turkmenistan.
In addition, additional social benefits are provided to special categories of citizens – veterans, people with disabilities and children who have lost parental care.
The budget also outlines measures to support entrepreneurship and increase the share of the private sector in the economy.
Among the promising areas of activity are also the improvement of the banking and tax systems, the search for additional sources of financing for national programs.
According to the resolution of the Mejlis, the execution of the State Budget of Turkmenistan for 2023 was approved for revenues in the amount of 119,007 580.6 thousand manats (US $ 34 billion) and expenditures in the amount of 116,223,771.4 thousand manats (US $ 33.2 billion).