Draft budget foresees 33 billion Turkish Lira gap
ANKARA - Hürriyet Daily News
Turkish lira banknotes are seen in a file photo illustration taken in Istanbul October 18, 2011. REUTERS photoTurkey’s draft central budget for 2013, which foresees a moderate 33 billion Turkish Lira gap, was approved at the Parliamentary Budget Commission yesterday evening.
The budgetary expenditure for next year is estimated at 444 billion liras, while the revenues are put at nearly 411 billion liras.
The second phase of Parliament discussions on the budget will commence Dec. 11.
Finance Minister Mehmet Şimşek said during discussions on the draft budget that the government was considering taking steps to increase the amount of direct taxes.
“The tax burden in Turkey is not heavy; however, there is an imbalance between direct and indirect taxes,” Anatolia news agency quoted him as saying. Income tax and corporate tax make up merely 6 percent of the gross domestic product, he added.