Turkish parliament approves government’s 2020 budget

Uncategorized Faizah Kamal 21-Dec-2019

Turkey’s parliament has approved the government’s 2020 budget, which forecasts a budget deficit of 138.9 billion lira ($23.4 billion). The budget projects increased spending on health, education, defence projects and military needs, and foresees a rise in budget revenues.

The 2020 budget was passed with 329 votes in favour to 159 votes against, according to state-run Anadolu news agency.

The government forecasts the 2019 year-end budget deficit to be at 80.6 billion lira.

Finance Minister Berat Albayrak said in July 2019 that the 2019 budget deficit-to-GDP ratio will be below 3 percent, despite a slowdown in income.