Turkey delays welfare bill implementation to October

Turkey's IMF-backed reform of its social security system will go into effect from October, rather than August as previously planned, parliament decided on Wednesday.

Turkey delays welfare bill implementation to October

Under the much-delayed reform the retirement age will gradually be raised to 65 from the current 48 years for men and 44 years for women.

The time required to prepare the infrastructure for the reformed system is the cause of the change in implementation date, the text of the amendment proposed by the ruling AK Party deputies in parliament said.

Turkey's reform process has suffered a slowdown in the last couple of years and Erdogan's ruling AK Party is facing a case in the Constitutional Court in which a prosecutor is seeking to close it down for alleged Islamist activities.

The AK party denies the charges.

Turkey this week completed talks with the IMF on the final review of the country's $10 billion standby deal.

The current, three-year standby deal expires in May. Turkey still owes $6.43 billion debt to the IMF, making it one of the largest recipient of the Fund's credit.

Reuters

Last Mod: 17 Nisan 2008, 08:36
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