Turkmenistan initiates preparation of 2025 State Budget

President of Turkmenistan Serdar Berdimuhamedov signed a decree ordering the Ministry of Finance and Economy of the country to prepare the state budget for 2025,Azernews reports.

According to the official source, the document recommends organizing work on the preparation of drafts of the State Budget of Turkmenistan for 2025, the main directions of the socio-economic development of Turkmenistan, and the Investment Program of Turkmenistan and submitting them to the Cabinet of Ministers by November 1, 2024.

At the same time, the document prescribes that by June 5, 2024, calculation forms and methodological guidelines for the preparation of the above-mentioned projects should be sent to ministries, sectoral departments, municipalities of the region, and the cities of Ashgabat and Arkadag. It is also required to create a working group of specialists and organize its effective work for the preparation of the above-mentioned projects.

The key objectives for the coming year are: maintaining macroeconomic stability; further dynamic development of economic sectors; investing the bulk of investments in radical modernization of production; creating a favorable business environment; and improving the standard of living of the population.

Meanwhile, the execution of the revenue part of the state budget of Turkmenistan for the whole of last year amounted to 109.4 percent, and the expenditure part amounted to 99.8 percent.

The nation is actively implementing measures to attract foreign investments, with a specific focus on diversifying the economy and improving the overall business climate.