EurasiaNet News Briefs - Turkmenistan: Ashgabat to Cut Back on State Spending in 2010

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TURKMENISTAN: ASHGABAT TO CUT BACK ON STATE SPENDING IN 2010
11/17/09

State expenditures in Turkmenistan are set to fall about 18 percent under the government’s draft 2010 budget.

In 2009, public expenditures amounted to $20.6 billion. In 2010, state spending will reach $16.9 billion. The gap will be plugged with cash from the country’s stabilization fund, the semi official Turkmenistan.ru reported on November 16.

When the 2009 budget was formulated it represented a 40 percent increase on spending over the 2008 level. Over the past six months, state coffers have been hit hard by the abrupt stoppage of gas exports to Russia. [For background see the Eurasia Insight archive]. l

President Gurbanguly Berdymukhamedov signaled that Turkmenistan is ready for falling energy demands. "When preparing the budget for 2010 take into account the possibility of reduced sales volumes and lower prices for natural gas and petroleum products," the report quoted him as saying.

According to the 2010 draft budget, wages, pensions and benefits will be increased by 11 percent; spending on public health and education will grow by 11.7 percent and 10.5 respectively; cash for state financed construction projects will more than double, the Turkmenistan.ru report added without specifying exactly how much is earmarked for each sector. Parliament is expected to take up the 2010 budget in the coming weeks.

Posted November 17, 2009 © Eurasianet
http://www.eurasianet.org

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