Turkey's budget for 2019 ratified by parliament

Turkey's budget for 2019 ratified by parliament

ANKARA
Turkeys budget for 2019 ratified by parliament

Turkish parliament has ratified the country's 2019 budget following a 12-day marathon session in the general assembly.

Parliament Speaker Binali Yıldırım announced in the early hours of Dec. 22 that the budget was backed by 335 lawmakers while 166 voted against it in the 600-seat chamber.

Lawmakers from the ruling Justice and Development Party (AKP) and Nationalist Movement Party (MHP) voted "yes" for the budget.

For 2019, Turkey is reportedly targeting 949 billion Turkish lira ($178 billion) in expenditures for public agencies and 867 billion Turkish lira ($163 billion) in general revenue.

Turkey's economy grew 5.2 percent in the April-June period and 7.3 percent in the first quarter of 2018. However, the growth rate for the third quarter was recorded as 1.6 percent.

Ankara targets 3.5 percent growth in 2020 and 5 percent in 2021, according to the new economic program announced by Finance Minister Berat Albayrak on Sept. 20.

Turkish economy grows by 1.6 percent in Q3
Turkish economy grows by 1.6 percent in Q3

Concordats may prevent bankruptcies in Turkey: Experts
Concordats may prevent bankruptcies in Turkey: Experts

Turkish parliament, Budget, 2019