Turkmenistan: President orders businesses to observe ‘financial discipline’
Turkmenistan President Gurbanguly Berdymukhammedov has ordered the government to ensure that private and public enterprises exercise rigid control over their finances and make efficient use of funds “allocated for the implementation of state-run programs,” independent news website Chronicles of Turkmenistan reported.
It appears that the order has been driven by financial constraints Turkmenistan is facing amid reduced natural gas imports by China, the main importer of the Turkmen gas, as well as a steep drop in gas prices, which also affects the state budget, largely dependent on the export of hydrocarbon resources.
The order was given at the session of the Turkmen Cabinet of Ministers on March 20 chaired by President Berdymukhammedov. At the meeting, Deputy Prime Minister overseeing economy and finance Gadyrgeldy Mushshikov made a progress report on improving the finance, banking and insurance industries, the state information agency TDH reported.
Following the deputy prime minister’s report, Berdymukhammedov said that thanks to a successful policy of “open doors”, large foreign companies are involved in implementing large-scale projects in Turkmenistan and called on “to expand cooperation with foreign business communities on the prospective Turkmen market”.
Source: TCA
