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Turkish government submits new budget to parliament
The budget of 2010 forecasts expenditures around 286.9 billion Turkish liras (TL), the revenues around 236.7 billion TL, tax revenues around 192.2 billion TL, and budget deficit around 50.1 billion TL. (One USD is 1.4620 TL)
The new budget also projects the Gross Domestic Product (GDP) around 1.2 trillion TL, the growth rate around 3.5 percent, the year-end consumer price inflation around 5.3 percent, exports around 108 billion USD and imports around 153 billion USD.
The parliament is expected to adopt the budget in December, at the end of almost two-month debates.
Before submitting the draft budget to parliament, Finance Minister Mehmet Şimşek told a press conference in which he said that the new budget not only took revenues under control but also raised revenues.
Şimşek said budget expenditures would be up 7.6 percent, revenues would be up 16.1 percent and tax revenues would be up 18.2 percent in 2010 when compared with 2009 budget performances.
Also, Şimşek said 2009 year-end budget expenditures would be 266.7 billion TL, revenues would be 203.9 billion TL and budget deficit be 62.8 billion TL.
Finance Minister Şimşek said the government was not thinking of rising taxes at the moment.
Şimşek said the government was neither foreseeing a tax reduction in 2010, however he said it might implement new policies according to changing conditions.
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