Keywords: socioeconomic development, state budget, development policy.
The revival of a new epoch of the powerful state gives rise to the qualitatively new phase of the economic strategy of Turkmenistan aimed at providing for sustainable growth of the national economy, happiness and prosperous future of the Turkmen people. The high dynamics of economic development creates a reliable basis for confident progress contributing to the strengthening of well-being of the country’s population, strengthening of Turkmenistan’s positions according to the indicator of social well-being.
The leader of the nation pursues successfully the socioeconomic development policy aimed at maintaining the well-being man who is declared as the highest value of the state and the society, at ensuring the relevant socioeconomic conditions conforming to the international standards. It can be noted with satisfaction that this policy meets in many ways the document adopted by the United Nations in 2015 «Transforming our world: the 2030 agenda for sustainable development» representing 17 Sustainable Development Goals.
Under the Leadership of Honorable President of Turkmenistan Serdar Berdimuhamedov, the country realizes the inherently progressive achievements aimed at confident prosperity and strengthening of the economic power of the state based on sincere concern for the well-being of every person, improvement of the social status of people, as well as the inviolability of the fundamental principles of peace, progress, good neighborhood, equality and mutually beneficial partnership in the region, in the world.
The state regulation system of the country, being realized within framework of the thoroughly worked up national economic doctrine, serves to be the key, defining category in building and forming purposefully the structure and configuration of the modern development. The national financial system, with the State Budget as its main component element, is recognized rightfully as one of the most important mechanisms allowing the State to carry out purposefully the economic and social regulation. Enterprises and institutions of the social and cultural assignment are financed at the expense of the budgetary and extra-budgetary funds. Budget expenditures due to the implementation of social policy of the State are of great importance. They allow the State to develop of the system of public education, finance, culture, meet the needs of citizens in medical care, and implement social protection.
The current reforms in all the sectors and segments of the national economy promote its intensive restructuring, diversification. Over a short period, Turkmenistan has become a reliable economic partner fulfilling strictly its obligation. The State Budget of Turkmenistan is among the key factors for effective and timely implementation of the economic reforms.
In process of preparing of the draft law of Turkmenistan «On the State Budget of Turkmenistan 2022», all the comments and instructions of the head of the state, as well as comprehensive aims and objectives outlined in the long-term plans and programs for the socio-economic development of Turkmenistan, were taken into account.
In the current conditions of motivated reduction of the tax burden on the business entities and provision for them of tax preferences revenue part of the State Budget of the country remains to be replenished successfully, and this is the evidence of stable, harmonious development of the national economy. As is known, the revenue part of the State Budget is formed by the paid governmental taxes including the value added tax, the profit tax, the natural resources tax, other taxes, fees. The stable rates of development of the national economy, the growth of investment activity, the active development and introduction of the advanced technologies and the best world practices together with reduction of the costs of commodity producers prove the increase of revenues entering the State Budget.
The State Budget policy thoroughly regulated as the important component of the national economic doctrine is aimed at increasing the efficiency of the public expenditures ensuring the sustainable economic growth of the country and improving the social and living conditions of people. Successful implementation of the State Budget ensures steady economic progress, increase of the volumes of manufactured products of the innovations, the latest advanced technologies into the production process.
Socio-cultural budget expenditures are not only social, but also of economic significance, as they constitute to the most important part of the costs of reproduction of the labor force and serve to improve the material and cultural standard of living of the population. The effectiveness of financial support for the functioning of the State, on the one hand, is an important component of sovereignty; on the other hand, it guarantees the performance by the State and its institutions of social, political, organizational and other functions necessary for the maintenance of sovereignty.
The Budget plays a key role in the national financial system.it represents a part of the distributing relations between the Government and enterprises the population, concerning the formation and use of the nationwide fund of financial resources.
The Budget system is the aggregation of the Central Budget, region budgets, local budgets and extra-budgetary funds, which is based on the economic relations and the state system regulated by the rule of law.
The budgetary funds are applied for implementation of the investment policy, for subsidizing of enterprises, financing conversation of the defense industries. Budget expenditures in the field of economy are designed to contribute to the formation of a rational structure of social production, to build up scientific and technological potential, and to upgrade the material and engineering base.
State regulation of the economy can significantly reduce the budget the budget expenditures, change their composition and structure.
The important role of the State Budget is not limited to financing of the sphere of material production. Budgetary resources are directed to the non-productive sphere.
The explicit social orientation of the economic reforms implemented in our country is the significant characteristic feature of the national economic doctrine. The construction of comfortable housing is expanding in the country. The well-developed social infrastructure is being formed to provide for modern level of social comfort.
In conclusion, it seems to be expedient to once again focus on the conceptual relevance and key role of the Budget in the life of the country, which determines the urgent need to master the finest mechanism for the formation and execution of budget parameters within the framework of science-budget policy.
References:
- Gurbanguly Berdimuhameov. «Steate Regulation of Socioeconomic Development of Turkmenistan» — study guide for higher education institutions, Part I. Ashgabat, Turkmen State Publishing Service, 2010
- The Budget Code of Turkmenistan. 2017
- The Yearly Statistical Book of 2020. Ashgabat. The State Committee of turkemenistan for Statistics.
