Wednesday, Jan 27
Turkish Parliament approves country's 2021 budget

Turkish Parliament approves country's 2021 budget

Following 12-day marathon debate in parliament, lawmakers approve budget proposals.
19.12.2020 - 16:13

Turkish Parliament ratified the country's 2021 budget on early Saturday after a 12-day marathon session in the general assembly.

Parliament Speaker Mustafa Sentop announced the Budget was supported by 316 lawmakers while 193 voted against it in the 584-seat general assembly.

LAWMAKERS APPROVED THE BUDGET

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

In the budget, the government has allocated the lion’s share to education with 211.4 billion Turkish liras ($26.5 billion)

PROJECTIONS OF EXPENDITURES AND REVENUES

Budget expenditures were projected at 1.346 trillion liras ($169.6 billion). Also, non-interest expenses come to 1.166 trillion liras ($147 billion).

The 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 and the second under the new presidential system of governance.