Turkish parliament to kick off budget discussions
The debate will begin on Dec. 9 after Finance and Treasury Minister Berat Albayrak presents the plan to parliament, and a vote is planned for Dec. 20.
Under the 2020 budget, Turkey has earmarked 88.5 billion Turkish liras ($15 billion) for public investment in the transportation, industry, health, and education sectors.
Budget expenditures were projected at 1.095 trillion liras ($0.19 trillion). Also, non-interest expenses will round up at 956.5 billion liras ($163.14 billion).
Budget revenues were projected at 956.6 billion liras ($162 billion) and tax revenues at 784.6 billion liras ($133 billion). The budget deficit was predicted at 138.9 billion liras (nearly $23 billion) for next year.
With the 2020 budget, the government has raised agricultural spending more than last year's 33.4 billion liras (nearly $5.67 billon). Also, 22 billion liras ($3.7 billion) have been allocated for agriculture support programs.
Meanwhile, real sector support will continue into the next year with an allocation of 44.5 billion liras ($7.56 billion).
A total of 188.6 billion ($32 billion) liras will be allocated for spending in the health sector.
The health sector has remained a top priority for the government, with its budget allocation rising from 11.3% in 2002 to 17.2% in 2020.
Also, the government has set a revenue target of 10 billion liras ($1.71 billion) from privatization in 2020.
The budget was passed on Friday by parliament's Planning and Budget Commission.
The budget for 2020 will be the 18th budget of the ruling Justice and Development Party (AKP) government and the second under the presidential system of governance.