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1、EconomyofTurkmenistanTurkmenistan isoneoftheworld's fastest-growingeconomies.Itislargelya desert countrywithintensive agriculture inirrigatedareas,andhuge gas and oil resources.Intermsofnaturalgasreserves,itis ranked4thintheworld.Regardingagriculture,thetwolargestcropsarecotton,mostofwhichis
2、producedforexport,andwheat,whichisdomesticallyconsumed.[4] Turkmenistanisamong thetoptenproducersofcottonintheworld.From1998-2005, Turkmenistan sufferedfromthecontinuedlackofadequateexportroutesfornaturalgasandfromobligationsonextensiveshort-termexternaldebt.Atthesametime,however,totalexport
3、srosebyanaverageofroughly15%peryearfrom2003–08,largelybecauseofhigherinternationaloilandgasprices.AsintheSovietera,centralplanningandstatecontrolpervadethesystem,andtheNiyazovgovernment(inpower1991–2006)consistentlyrejectedmarketreformprograms.Thestatesubsidizesawidevarietyofcommoditiesandse
4、rvices.Sincehiselectionin2007,President GurbangulyBerdimuhamedow unifiedthecountry'sdualcurrency exchangerate,orderedtheredenominationofthemanat,reducedstatesubsidiesforgasoline,andinitiateddevelopmentofaspecialtourismzone(Avaza)ontheCaspianSea.Since2009,Turkmenistanmaintansthefixedexchanger
5、ateof1 UnitedStatesDollar to2.85 Turkmenistanmanat.[4]FiscalPolicyThebudgetmakingprocessanditsimplementationgoesaccordingtotheLaw“OnBudgetSystem”.Thelawfixeslegalfoundationsoforganizingmanagementandoperatingbudgetsystem,regulatesinterrelationsbetweenbudgetsofalllevels.TheGovernmentof Turkmen
6、istan discussestheStatebudgetdraftandsubmitsittothe PresidentofTurkmenistan.Priortoonemonthofthebeginningofthefinancialyearthe PresidentofTurkmenistan submitstothe AssemblyofTurkmenistan(Mejlis)theStatebudgetdraftforconsiderationandadoption.Budgetstatisticsareunreliablebecausethegovernmentsp
7、endslargeamountsofextra-budgetaryfunds.In2012,itisestimatedthatthebudgetexpendituresareUS$26.9billion,andrevenuesareUS$26.4billion,creatingaslightdeficit.MonetarypolicyInflationSince1991–thelastyearofexistenceoftheUSSR–upto1993–thelastyearofroublez
