President of Turkmenistan Gurbanguly Berdimuhamedov, speaking at a session of the People’s Council, briefly summed up the results of the political and socio-economic growth of Turkmenistan over 29 years of independent development.
According to the head of state, Turkmenistan has established diplomatic relations with 149 states, is a member of about 50 international organizations and a party to over 150 international conventions, treaties and other multilateral documents.
The Turkmen leader noted that the spread of the coronavirus infection had a negative impact on the economies of all states. Nevertheless, despite the difficult financial and economic situation in the world, Turkmenistan has achieved sustainable economic development, and has been able to maintain a significant financial reserve.
“More than 70% of the State Budget funds are channeled to the social sector. Enormous financial resources are spent to improve the social and living conditions of the population in villages, towns, etrap cities and etrap centers. Next year, we will continue to allocate the State Budget funds for building residential houses for disabled persons and citizens in need of support”, the Turkmen leader declared.
The President stressed that along with this, it is necessary to increase the amount of loan funds allocated for development of the industrial sectors of the economy, encourage small production enterprises.