Turkmen President instructed to direct over 70% of State budget expenditures to social sphere next year.

The draft State Budget of Turkmenistan for 2021 was considered during the Cabinet of Ministers meeting on Friday.

According to the TDH news agency, Deputy Chairman of the Cabinet of Ministers Gadyrgeldi Mushshikov reported to President Gurbanguly Berdimuhamedov on the preparation of drafts of the State Budget, the Main Directions of the country's socio-economic development and the Investment Program for 2021.

Deputy Prime Minister Mushshikov proposed to allocate a significant part of the State Budget funds for 2021 to the development of the social sphere, in particular, education, healthcare, culture, the system of state social security, housing and communal services, and general public services.

Certain volumes of capital investments will be allocated for the construction of buildings, industrial and social-cultural facilities, and for the construction of new settlements and villages in the velayats.

The Head of State stressed that next year it is planned to bring the GDP growth rate in comparative terms to 6.2%, adding that it is important to plan measures to reduce the negative impact of the downturn in global economy on the national economy in order to ensure its further progressive and dynamic development.

Following the principle of social orientation of the national economy, President Berdimuhamedov instructed to direct over 70% of State budget expenditures to social sphere next year.

Of these funds, 28.5% will reportedly be directed to finance education, 10% - healthcare and 24.8% - social security system. The budget for the coming year also intends to provide for a 10% increase in salaries and state benefits, pensions and student allowences.

The Head of State signed a document on the direction of the draft State Budget for 2021 for consideration to the Mejlis and proposed to consider the country's main financial plan at the next meeting of the national parliament.

Business Turkmenistan