Turkish finance minister presents 2014 budget at parliament commission.

By bne IntelliNews October 23, 2013

The process at parliament for discussions on the 2014 budget has been kicked off on Tuesday with a representation made by finance minister Mehmet Simsek at parliament’s budget and planning commission. The commission should finalise its works on the budget until November 22 and then the budget will be sent to the office of parliament’s speaker.

The budget aims at reducing current account deficit, stimulating growth and job creation, Mehmet Simsek said at the presentation. The budget projects a GDP growth of 4%, end-year inflation of 5.3% for 2014 while exports and imports are seen at USD 166.5bn and USD 262bn, respectively.

The 2014 budget targets a budget deficit of TRY 33.2bn (EUR 12bn) (1.9% of GDP) and a primary surplus of TRY 18.8bn (1.1% of GDP). The government’s budget deficit and primary surplus targets for 2013 is TRY 19.4bn (1.2% of GDP) and TRY 31.1bn (2% of GDP).

As of October 21, TRY 58.3bn worth of assets has been registered under the so-called “wealth amnesty” scheme, according to the minister. Actual inflows amounted to TRY 5.5bn and the government collected TRY 111mn tax from these assets, Simsek said.

 

Related Articles

Turkey postpones plan to sell firms seized after coup attempt

Turkey has put on hold its plan to sell almost 600 companies worth about $10bn seized in the aftermath of the failed military coup, people familiar with the matter told Bloomberg on March 23. The ... more

Turkey to maintain EU economic relations but review political ties, says Erdogan

Turkey will maintain its commercial ties with the European Union but will review its political and administrative ties with the bloc after the April 16 referendum, Turkish President Recep Tayyip ... more

Turkey easily tops table for Twitter content removal requests

Turkey accounted for more than half of all content removal requests received worldwide by Twitter during the second half of 2016, according to the social media company’s ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss