Turkish parliament set to start 2021 budget marathon
14:09, 21/10/2020, WednesdayU: Update: 14:11, 21/10/2020, Wednesday
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Long-distance race to pass budget for next year set to start today and last for at least 2 months
Turkey’s parliament is set Wednesday to start a two-month-plus marathon to pass the 2021 budget.
Turkish Vice President Fuat Oktay is set today to present next year’s budget – the third under Turkey’s new presidential system – to parliament's Planning and Budget Commission.
The committee will debate the budget until Nov. 24.
The debate will continue in the General Assembly in early December, where heated exchanges are expected.
In the budget, the government allocates the lion’s share to education with 211.4 billion Turkish liras ($26.5 billion).
Budget expenditures were projected at 1.346 trillion liras ($169.6 billion). Also, non-interest expenses come to 1.166 trillion liras ($147 billion).
Budget revenues were projected at 1.101 billion liras ($138.8 million) and tax revenues at 922.7 billion liras ($116.3 billion). The budget deficit for next year was predicted at 245 billion liras (nearly $31 billion).
The budget for 2021 will be the 19th budget of the ruling Justice and Development (AK) Party government, which first came to power in fall 2002.