Ashgabat, Turkmenistan, April 29
By Huseyn Hasanov – Trend:
The practical actions must be taken to improve legislative acts in accordance with the generally recognized norms of international law, President of Turkmenistan Gurbanguly Berdimuhamedov said at a government meeting, Altyn Asyr TV channel reported.
The matter rests in the regulations concerning the efficient use of public funds, as well as tax, monetary and investment issues.
The president drew attention to the need to develop laws on a regular basis, taking into account modern realities to attract additional tax and non-tax revenues to the budget.
At the governmental meeting, the country’s officials updated the president about the fulfillment of the instruction to monitor the current tax legislation and further improvement of the legal framework.
"As a result of the work carried out jointly with ministries and departments, it is proposed to implement new types of financial receipts that meet the national peculiarities and mentality," Altyn Asyr TV channel reported.
Turkmenistan has embarked on a policy of gradual transition to market economy.
Since January 1, 2015, the official exchange rate in Turkmenistan remains at 3.50 Turkmen manats to the US dollar.
Presently, a regulatory and legal framework is being created. The conditions are being created for free wholesale trade.
Turkmenistan ranks fourth in the world in terms of the volume of natural gas and has opportunities to export it to China and Iran. Meanwhile, Russia suspended the purchases of Turkmen gas in 2016.
