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Turkmenistan plans to develop a state budget for 3 years

Turkmenistan plans to develop a state budget for 3 years

The State Budget for 3 years period is planned to be developed in Turkmenistan. It was reported by the Vice-Premier Muhammetguly Muhammedov, who oversees the financial and economic bloc, today at a meeting of the Cabinet of Ministers, providing the head of state with information on the preparation of a preliminary draft resolution “On measures to improve budgetary activities in Turkmenistan” aimed at fulfilling the tasks and requirements of the country's Budget Code.

“The document provides: preparation of the State Budget for a 3-year period, a set of measures to strengthen control over the execution and improvement of the management of the budget system, the development of relevant regulatory legal acts in 2022-2024. Alongside this, it is proposed to create a special State commission and approve its composition," the information program “Watan’ of the Turkmen television reported.

Summarizing the Vice-Premier’s report, President Serdar Berdimuhamedov noted that in present conditions it is extremely important implement economic regulation, one of the mechanisms of which is the budgetary sphere. The key place in this process is given to shaping of the most important financial document – State Budget of the country.

“Strong sustainable monetary flow regulation system promotes states proper functioning, its property and citizens’ welfare growth” – underlined the head of Turkmenistan giving instructions to the Vice-Premier to continue work in this direction.

Previously, the State budget in Turkmenistan was drawn up for one year.

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