The President of Turkmenistan held a working meeting

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Today President Gurbanguly Berdimuhamedov held a working meeting with participation of Deputy Chairman of the Cabinet S. Berdimuhamedov and Minister of Finance and Economy M. Serdarov. At the meeting reports of heads of economic and financial-banking sectors on the course of work on preparation of the draft of the State budget of Turkmenistan for the forthcoming year were listened.

During the meeting the leader of the nation noted that in connection with the events occurring today in the world in all states the special attention should be paid to development of the draft of the main financial plan for 2022. In this context, it is necessary to take effective measures for the purpose of ensuring implementation of the accepted social and industry programs for development of the country.

Minister of Finance and Economy M. Serdarov reported on the work which is carried out by subordinated establishments on preparation of the draft of the State budget as well as practical steps carried out for successful solution of priority tasks of financial and budgetary policy.

Implementation of programs for social and economic development of Turkmenistan, regions and branches of the economic complex, and also industrialization of the country became a separate subject of the report.

Reporting on the course of implementation of the Concept on transition to digital economy, the minister reported that now in all leading spheres advanced technologies actively take root, the range of digital services extends. Information on the monitoring of observance of provisions of relevant normative legal acts regulating activity of establishments of the economic block which is carried out on a systematic basis, was heard.

Summarizing the report, President Gurbanguly Berdimuhamedov emphasized the need of careful analysis of all issues connected with development of the State budget for 2022. One of the priorities the head of state called acceptance of appropriate measures for successful embodiment of programs into life for increase in production of export-oriented and import-substituting production, creation of the enterprises for release of electronic goods.

Successful implementation of the plans in the short term will provide positive dynamics of growth of the Turkmen economy, building of commercial relations with foreign partners, the leader of the nation Gurbanguly Berdimuhamedov said, having given the Minister of Finance and Economy a number of instructions.

Then Deputy-Chairman of the Cabinet S. Berdimuhamedov reported on the course of preparation of the draft of the State budget for 2022.

The deputy-chairman reported on the provided additional sources in revenues of the State budget, the planned work on acceleration of transition to digital system, privatization of state property, and also transformation of establishments and enterprises into joint-stock companies, development of securities market.

Information on the expected economy GDP level in the draft of the State budget of Turkmenistan for 2022, provided volumes of funds which will be allocated for the social sphere was heard. In particular, it was reported that in the main financial plan in the forthcoming year increase in salaries, pensions and welfare payments by 10 per cent was taken into account.

Summarizing the report, President Gurbanguly Berdimuhamedov noted the importance of further acceptance of complex measures for ensuring stable economic growth. The state budget for the next year has to be developed, first of all proceeding from the tasks defined in the long-term national industry and regional programs aimed at further development and diversification of economy, stimulation of its private sector, accumulation of investment potential, improvement of social sphere, steady increase of level and quality of life of Turkmen nationals.

The particular emphasis was placed on the need of systematic conduction of monitoring of macroeconomic indicators and development of forecasts for prospect. It is necessary to keep timely fulfilment of all tasks facing the economic block under control the leader of the national said, having commissioned the Deputy-Chairman a number of concrete instructions.

Having focused attention on issues of further improvement of banks of the country, the head of state stated importance of activation of work on digitalization due to use of advanced information technologies in establishments of this system. Expansion of a range of high-quality services and products in this sphere will allow to increase profitability of credit institutions, the leader of the nation emphasized, having given the corresponding instructions.

Then President Gurbanguly Berdimuhamedov noted that in 2022 it is necessary to provide the GDP stable level, having kept sustained economic growth, and also to continue reforming of market institutes.

Among prime measures development of additional financing of export enterprises by means of their support, including with wide use of modern means of financing of trade, stimulation of foreign economic activity was called. Along with it the leader of the nation noted importance of support of export enterprises by encouragement of trade organizations for building of routes of deliveries of local production to the new export markets.

Having determined one of the main objectives improvement of the social sphere of the country, the leader of the nation disposed to take due measures for development of education system, implementation in full of programs for modernization of material base of health sector and other branches.

In completion of the working meeting President Gurbanguly Berdimuhamedov wished its participants success in their large-scale work directed to further prosperity of the country and wellbeing of its people.

State Information Agency of Turkmenistan