Arzuw NEWS - Turkmenistan news

The parliament of Turkmenistan adopted the budget for 2023

The Parliament of Turkmenistan (Milli Gengesh) unanimously adopted the country's budget for 2023. This was reported today by the news program "Vatan" of Turkmen TV after a joint session of the two houses of parliament.

As noted in the report, before the adoption of the Law on the State Budget for 2023, the basic articles of this document were once again radically analyzed and brought in line with the realities of the time. All suggestions and recommendations of Chairman of the Khalk Maslakhaty Gurbanguly Berdimuhamedov were taken into account and incorporated into the relevant draft law at the meeting of the Khalk Maslakhaty held on 23 November this year.
The preparation of the State Budget takes into account issues such as the prospects for economic development of the country, the stability of the national currency, investment policy, the state of the financial market, and for the correct operation of the State Budget first of all to ensure its revenue side.

The expenditure part of the State Budget for 2023 primarily provides for an increase in wages, pensions, state benefits, scholarships for students and trainees, as well as social protection of citizens and ensuring their remuneration.

The draft State Budget for the next year provides that more than 70% of funds will be allocated for the development of the social sphere, in particular education, health, culture, state social security system, housing and utilities, public services of general nature. The budget envisages that next year the state will make capital investments in the construction of housing and industrial and socio-cultural facilities.

The main financial law of the country provides for state allocations for the development of the agro-industrial complex, transport, communications, construction, textile and food industries. The budget includes funds for the continued construction of transport, communication and production infrastructure.

Parliament heard speeches on the indicators of local budgets provided for in the draft state budget for the coming year. For 2023, it is planned to take measures to support small and medium-sized businesses, increase the volume of Turkmen production, and ensure food supplies to the domestic market.

At the same time, the country's budget provides for continuation of work on privatization of state-owned facilities and enterprises, creation of joint-stock companies, and increasing the share of the private sector in the structure of the country's economy. Improvement of the tax system and the search for additional sources of funding for state and national programs are also among the promising areas of activity.

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