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Turkey Focuses on Growth in 2017 State Budget

turkey-focuses-on-growth-in-2017-state-budget

Turkey Focuses on Growth in 2017 State Budget

Turkey Focuses on Growth in 2017 State Budget

Turkey’s government (Finance Minister Naci Ağbal ) has released the “growth-friendly budget” that aims to stimulate the economy over the next few years.

Ağbal declared in Oct. 17. That “The 2017 budget will be a growth-friendly one, underlining the main characteristics of it. Our fiscal policy will focus on stimulating the economic growth during the 2017-2019 period,”

he said, a deficit of 46.9 billion Turkish Liras ($15.2 billion) and a non-interest surplus of 10.6 billion liras ($3.4 billion) are expected in the 2017 budget.

The ministry estimates that budget expenses for the 2017 fiscal year will reach 645.1 billion liras ($208.8 billion), while budget income will reach 598.3 billion liras ($193.6 billion), that is according to Anadolu Agency.

Ağbal added, “More resources will be allocated in order to foster a qualified work force, innovation and investments to boost production and exports,”.

According to this, real sector incentives are expected to reach 32.4 billion liras ($10.5 billion) in 2017. Some 58.4 billion liras ($19 billion) will also be allocated to municipalities.

And for the planned investments in the country’s 23 eastern and southeastern provinces it is expected to spent around 10 billion liras ($3.3 billion).

 

Source: Hurriyet Daily News

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