Posted by meb at October 19th, 2009
The central administration budget for 2010, which focuses on overcoming the economic crisis, was submitted for Parliament’s approval on Saturday and includes no specific reference to a potential stand-by deal with the International Monetary Fund (IMF).
Disclosing the details of the new budget at a press conference on Saturday, Finance Minister Mehmet ÅžimÅŸek said Turkey had prepared its budget while taking into consideration its own needs and the conditions arising from the economic crisis, underlining that talks with the IMF would â€œproceed on the premises set out in the budget.â€
The size of the 2010 budget is TL 286.93 billion. It includes a 5.06 percent wage increase for civil servants, in two equal semiannual installments of 2.5 percent. With expected revenue of TL 236.8 billion, the deficit will be approximately TL 50 billion.
According to experts, Finance Ministry bureaucrats maintained caution while drafting the budget. The economic gloom in Turkey will persist next year, and the government will stick to its policy of fiscal discipline, they note. (more…)