Turkey’s budget ‘to focus on job creation’

ANKARA - Anadolu Agency

Turkey is looking to create more jobs during the years 2018-2020, the Finance Ministry said on Oct. 5.

During this period, Turkey will also focus on maintaining macro-economic stability, reducing inflation and improving income inequality.
However, the government did not specifically mention the number of jobs it will create through the plan.

The ministry said it will increase budgeted spending by 18 percent to 691 billion Turkish Liras ($193.4 billion) next year, 753 billion liras ($210 billion) in 2019 and 816 billion liras ($228.4 billion) in 2020.

Spending on civil servants will account for one of the biggest slices of the pie at 183 billion liras ($51 billion) next year, up 162 billion liras from this year.

According to the medium-term economic program announced late September, the government aims to hit annual economic growth of 5.5 percent until 2020.

It expects to collect 696.8 billion liras ($195 billion) next year, leaving a nearly 66 billion lira ($18.4 billion) budget deficit.

In its medium-term fiscal management plans for 2018 to 2020, the ministry said the government will keep the budget deficit below 2 percent at 1.9 percent for 2017-18. The government plans on reducing that to 1.6 percent by 2020.