LAW OF TURKMENISTAN

of November 21, 2015

About the Government budget of Turkmenistan for 2016

Article 1

Approve the Government budget of Turkmenistan for 2016 according to the income in the amount 102478, in 5 million manats and on expenses in the amount 104878, in 5 million manats, including the budget of the first level for the income in the amount 18205, in 5 million manats and on expenses in the amount 20605, in 5 million manats.

Article 2

Establish limit of central government budget deficit of Turkmenistan for 2016 in the amount 2400, of 0 million manats.

Determine that source of covering of budget deficit is the remaining balance of budgetary funds which developed as of January 1, 2016.

Article 3

Approve the Centralized budget of Turkmenistan for 2016 according to the income in the amount 94184, by 9 million manats and on expenses in the amount 96584, 9 million manats, including the budget of the first level for the income in the amount 9911, 8 million manats and on expenses in the amount 12311, 8 million manats.

Article 4

Establish for 2016 standard rates of contributions from nation-wide taxes to city budgets of Ashgabat and welayats in the following sizes:

                from tax         from tax          from tax
                  on added     on profit         for use
                    cost                             subsoil

city of Ashgabat    of 44%              of 45%            of 44%

Ahal Region      95%           of 95%            of 95%

Balkan Region    20%          of 21%                 of 20%

Dashoguz Region   95%          of 95%             of 95%

Lebap Region     95%           of 96%            of 95%

Mary Region     95%           of 95%                 of 95%

Article 5

Allocate in 2016 assignments to welayats from the Centralized budget of Turkmenistan in the amount 1317, with 8 million manats for ensuring balance of their budgets, including:

Ahal Region    128,    1 million manats

Dashoguz Region     927,    2 million manats

Mary Region      262,    5 million manats

Article 6

Approve local budgets in the amount 9611, by 4 million manats, including city budgets of Ashgabat and welayats in the following sizes:

city of Ashgabat    3103,    1 million manats

Ahal Region     992,     0 million manats

Balkan Region    946,    3 million manats

Dashoguz Region   1344,    7 million manats

Lebap Region     1716,    1 million manats

Mary Region     1509,    2 million manats

Article 7

Determine that the protected expenditure items of the Government budget of Turkmenistan are the salary, pensions, public welfare payments and grants.

Article 8

Charge to the Ministry of Finance of Turkmenistan to bring necessary amendments in the indicators of the Government budget of Turkmenistan for 2016 following from the laws of Turkmenistan, decrees, resolutions and orders of the President of Turkmenistan and also in necessary cases to allocate the funds saved in all respects expenses in the course of execution Centralized and local budgets for other expenditure items.

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