Turkish government plans investments worth 65 billion liras in 2019

Turkish government plans investments worth 65 billion liras in 2019

ANKARA - Anadolu Agency
Turkish government plans investments worth 65 billion liras in 2019

Public spending on investments will amount to a whopping 65.4 billion Turkish Liras ($12.3 billion) this year, with the lion’s share going to the transport and communication sectors.

Under the presidential decree for the government’s 2019 investment program, published in the Official Gazette, the government will invest 20.3 billion liras for transport and communication projects, corresponding to a 31 percent share in total budget earmarked for 2019.

The government plans to spend 10.8 billion liras on education, 7.7 billion liras in energy projects, 5 billion liras on health, and 4.9 billion liras on agriculture.

According to the program, another 2.1 billion liras will be invested in energy projects while 841 million liras have been budgeted for manufacturing investments.

The government will also spend a total of 406.2 million liras on housing and 344.5 million liras on tourism industries.

State economic enterprises will utilize the 13.8 billion liras part of the total 64.5 billion liras allocated for investments while the share of the entities under the scope of the privatization program is 85.2 million liras. The resource speared for local administrations is 52.8 billion liras.

15 percent increase in energy investments

The program foresees a 15.3 percent increase in public expenditure in energy and mining sectors in 2019.

The breakdown of the data shows that the country will invest 9.81 billion liras in energy and mining projects this year, compared to 8.51 billion liras in 2018.

The country will allocate nearly 7.71 billion liras for 104 projects in the energy sector, and plans to budget approx. 2.10 billion liras for 49 projects in the mining sector.

Turkish Petroleum Pipeline Corporation (BOTAŞ) will have the lion’s share of public investment in the energy sector.

The country will spend nearly 3.70 billion liras on the corporation’s 15 ongoing and planned projects for 2019.

BOTAŞ will be followed by the Turkish Electrical Transmission Company (TEİAŞ), which with its 31 projects this year will receive 1.99 billion liras.

Turkey’s State Hydraulic Works follows TEİAŞ as the third largest recipient will receive 1.12 billion liras for its 11 projects.

In the mining sector, the biggest share of public investment will be given to Turkish Petroleum with 1.26 billion liras for the company’s 13 ongoing and planned projects in 2019.

The Mineral Research and Exploration General Directorate (MTA) will obtain 315.49 million liras for its six projects while Turkey’s Electricity Generation Company (EÜAŞ) will be allocated 168.26 million liras for its eight projects.

Turkish economy, government spending, Investment, 2019