Turkish parliament ratifies 2020 budget

By Emin Avundukluoglu

ANKARA (AA) - Turkish lawmakers ratified the 2020 budget Saturday following a 12-day marathon session in the general assembly.

Parliament Speaker Mustafa Sentop announced the budget was supported by 329 lawmakers while 159 voted against it in the 600-seat chamber.

Lawmakers from the ruling Justice and Development (AK) Party and opposition Nationalist Movement Party (MHP) approved budget.

Turkey earmarked 88.5 billion liras ($15 billion) for public investment in transportation, industry, health and education.

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).

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.

The government raised agricultural spending more than last year's 33.4 billion liras ($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 on health.

The health sector 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 set a revenue target of 10 billion liras ($1.71 billion) from privatization in 2020.

The budget is the eighteenth budget by the AK Party and the second under the presidential system of governance.