MPs in Turkey to begin debating 2018 budget

MPs in Turkey to begin debating 2018 budget

ANKARA – Anadolu Agency
MPs in Turkey to begin debating 2018 budget

Turkish lawmakers will begin 12 days of debating of the 2018 budget at parliament on Dec. 11, when Finance Minister Naci Ağbal presents the government’s budgeting plan.

MPs will be asked to vote on a final budget on Dec. 22.

The government has hailed plans to raise spending on education to 134 billion Turkish Liras ($34.92 billion), bringing education expenditure to around 18 percent of all public spending.

In October, Ağbal said budget spending in 2018 would amount to 762.8 billion liras ($198.8 billion). Revenue is expected to be 696.8 billion liras ($181.6 billion), including nearly 600 billion liras ($156.4 billion) in tax revenue.

Around 85 billion liras ($22.2 billion) is earmarked for public investment, with nearly 30 percent to be spent on transport. Around 10 percent of investment will be in the health care sector while 12 percent will go toward agriculture.

According to the Turkish Statistical Institute (TÜİK), growth was higher than expected in the first six months of 2017, at 5.2 percent in the first quarter and 5.1 percent in the second.

Growth was 5.2 percent in 2014, 6.1 percent in 2015, and 2.9 percent in 2016.

Ankara is targeting a growth of 5.5 percent this year, which it hopes to carry through to 2020, according to the medium-term economic program announced in September.

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