Turkey cuts spending by 3.061 bln lira - minister

An IMF delegation is scheduled to visit Turkey in early January for talks with Turkish officials.

Turkey cuts spending by 3.061 bln lira - minister
Turkey's government cut total budget spending planned for 2009 by 3.061 billion lira ($2.02 billion), Economy Minister Mehmet Simsek said on Thursday, as the country heads into a possible loan deal with the IMF.

Parliament also accepted a resolution cutting spending for some ministries by between 10 percent and 16.5 percent in 2009, corresponding to 3.061 billion lira spending cut. the justice, education and health ministries are among those that lost some funding.

Simsek told parliament the government investment spending alone would be lowered by 1.8 billion lira next year.

An IMF delegation is scheduled to visit Turkey in early January for talks with Turkish officials.

Turkey may sign a regular standby or a precautionary standby loan deal with the IMF.

Turkey's previous $10 billion standby loan accord with the IMF expired in May.

($=1.5090 lira)


Reuters
Last Mod: 26 Aralık 2008, 09:00
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