Turkmenistan Develops Draft State Budget For 2020

BUSINESS TURKMENISTAN
Turkmenistan Develops Draft State Budget For 2020
The budget for the coming year also intends to provide for a 10 percent increase in salaries and state benefits, pensions and student scholarships.

Turkmenistan plans to dedicate 75% of the funds of the coming year’s State Budget for the social sphere. The budget for the coming year also intends to provide for a 10 percent increase in salaries and state benefits, pensions and student scholarships.

This was discussed at a meeting of the Cabinet of Ministers of Turkmenistan on November 15 dedicated to the results of the work of the national economy during the past ten months and the draft State budget for the next year.

Deputy Chairman of the Cabinet of Minister of Turkmenistan Gochmyrat Myradov briefed the President of Turkmenistan Gurbanguly Berdimuhamedov and the participants of the government meeting on macroeconomic indicators for January-October 2019.

The Deputy Chairman informed that during the period under review, the revenues of the state budget amounted to 15.7 billion manats, and the expenditure - 15.6 billion manats. Myradov then briefed on the draft State Budget for 2020.

Turkmen President noted the positive dynamics of economic indicators over the past ten months. The Head of State noted that a more detailed analysis will be given following a working visit by experts of the International Monetary Fund.

Turkmenistan’s GDP recorded a 6,3 percent increase in January-October 2019.