Turkish gov’t makes new plan for economy

Bloomberg

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The new plan will lay out revised forecasts for the budget and growth that will form the basis of an accord with the fund and will also serve as a road map for the country's plans to meet European Union membership criteria, the newspaper said yesterday.

It will include introduction of a fiscal rule designed to limit the budget deficit, Referans said. There will be an independent body appointed to monitor compliance with the rule, it said. The plan will also bring changes to the administration of the tax-collection agency, it said.

Meanwhile, Osman Arslan, deputy head of Turkey's Export Credit Bank, said he expects the country to agree a lending accord of between $20 billion and $32 billion with the IMF, Dünya newspaper reported.