In financial system of Turkmenistan, like in other economically developed countries, public finances – State budget play a leading role. All recent years the State budget of Turkmenistan bears a stable character, the witness of which is a stable growth of income and expenses, absence of budgeted deficit. Thus, main budget parameters of the country were fulfilled in January-February 2014. Established task on income of the State budget was fulfilled for 111,2%, and on expenses – for 96,8%. In accounting period the tendency of state budget income growth has continued. In comparison with relevant period of 2013 the income of State budget has increased by 4,9%.
Speaking about budget system of Turkmenistan, one must mention its social orientation. Social orientation of budget policy of Turkmenistan for transition economy was the only right way, providing the social security of the population and political stability in the country. Being the main priority of our state, the social sphere assumes also direct investments into human capital, which is considered in modern world as a powerful resource of economic development and indicator of state maturity.
Budget policy in social sphere is directed to provision with financial resources of basic services, first of all, the education, public health and social welfare. In January-February 2014 the expenses for social sphere has constituted 77,6% of state budget expenses total volume. Out of total sum of expenses allocated for public and social services, the most assignations for analyzable period were directed to Pension fund of Turkmenistan, education, state social welfare and housing and communal services.
Protected items of expenses of State budget of Turkmenistan are salary, pensions, allowances and scholarships. Economic reforms being carried out in Turkmenistan at present, have also significantly affected the sphere of state finances, first of all the budget system. It is justified as the budget policy of Turkmenistan corresponds the purposeful function of state on definition of main tasks and quantitative parameters of budget income and expenses formation, being one of principal instruments of state economic policy.
Proceeding from importance of continuation of activities on improvement of acting and adoption of new laws, providing the innovative way of economic development of state the national parliament adopted The Budget Code of Turkmenistan. The Code establishes the general principles of organization and functioning of budget system, defines the bases of budgetary processes and inter-budgetary relations in Turkmenistan. The Code, developed taking into account the state-of-the-art international experience in this sphere and in accordance with international standards will allow to form the single mechanism of budget system, as well as provide the conduction of effective state policy in this direction.
Speaking about budget system of Turkmenistan, one must mention its social orientation. Social orientation of budget policy of Turkmenistan for transition economy was the only right way, providing the social security of the population and political stability in the country. Being the main priority of our state, the social sphere assumes also direct investments into human capital, which is considered in modern world as a powerful resource of economic development and indicator of state maturity.
Budget policy in social sphere is directed to provision with financial resources of basic services, first of all, the education, public health and social welfare. In January-February 2014 the expenses for social sphere has constituted 77,6% of state budget expenses total volume. Out of total sum of expenses allocated for public and social services, the most assignations for analyzable period were directed to Pension fund of Turkmenistan, education, state social welfare and housing and communal services.
Protected items of expenses of State budget of Turkmenistan are salary, pensions, allowances and scholarships. Economic reforms being carried out in Turkmenistan at present, have also significantly affected the sphere of state finances, first of all the budget system. It is justified as the budget policy of Turkmenistan corresponds the purposeful function of state on definition of main tasks and quantitative parameters of budget income and expenses formation, being one of principal instruments of state economic policy.
Proceeding from importance of continuation of activities on improvement of acting and adoption of new laws, providing the innovative way of economic development of state the national parliament adopted The Budget Code of Turkmenistan. The Code establishes the general principles of organization and functioning of budget system, defines the bases of budgetary processes and inter-budgetary relations in Turkmenistan. The Code, developed taking into account the state-of-the-art international experience in this sphere and in accordance with international standards will allow to form the single mechanism of budget system, as well as provide the conduction of effective state policy in this direction.