Budget dominates parliamentary proceedings

Debates over the fiscal year 2006 budget bill are expected to last for the rest of the month, with Parliament's Planning and Budget Commission meeting almost every day to get the budget ready before the General Assembly meets on it some time in December.

The budget, which foresees a three-year economic program, is supported by the International Monetary Fund (IMF). According to the objective for the year 2006 within the framework of tight fiscal policies, the budgetary surplus will be YTL 27.5 billion, the budget deficit YTL 13.3 billion and interest payments YTL 46.26 billion.

The total amount of central administration budget expenses has been determined to be YTL 174.34 billion. Budgetary income for next year is predicted at YTL 156.85 billion and special budgetary income YTL 10.555 billion. The government aims to gradually reduce the rate of budgetary spending as compared to the gross national product (GNP).

The GNP is expected to reach YTL 539 billion next year when total imports amount to $124 billion and exports to $79 billion.

Growth is expected to come in at 5 percent, and the rate of the extra-budgetary surplus on the GNP is set at 6.5 percent.