The Parliament of Turkmenistan adopted the state budget for 2018

© RIA Novosti / Ramil to Setdiscoverable photolanguage in the world. Ashgabat. Archival photoThe Parliament of Turkmenistan adopted the state budget for 2018© RIA Novosti / Ramil to Setdiscoverable the image Bank

The Majlis (Parliament) of Turkmenistan at the 25th meeting of the fifth convocation adopted the bill «On State budget of Turkmenistan for 2018» and the resolution «On execution of the State budget of Turkmenistan for 2016,» according to the state news Agency TDH.

The report notes that «the General revenues of the state budget in 2018 will be 95508,5 million manats (more than 95,508 billion), in a similar volume are planned and the costs.»

In 2017, the revenues of the state budget provided in the amount 103,571 billion manats, expenses — 104,871 billion manats. Thus, the state budget for next year, less than the current budget of more than 8 billion manats in revenues and more than 9 billion manats in expenditures.

The official exchange rate set by the Central Bank of Turkmenistan is 3.5 manats to 1 U.S. dollar.

As in previous years, the revenue part of the budget for 2018 will be formed mostly by oil and gas industry, chemical industry, electricity, construction and other industries.

According to the legislation, the Parliament adopted the law «On State budget of Turkmenistan for 2018» will be sent to the President of the country. After the President will sign this law, it will enter into force.

Falling prices on the global energy market continues to have a negative impact on the economy of the States rich on oil and gas resources, including Turkmenistan. The Turkmen government is committed to accelerate the transition to market economies, to diversify the economy, to reduce imports and increase exports.

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