Turkish govt says to present 2011 budget to parliament soon

Turkish state minister for economy has said the government would present 2011 budget to the parliament soon along with a medium-term economic program and a medium-term financial plan.

Turkish govt says to present 2011 budget to parliament soon

Turkish state minister for economy has said the government would present 2011 budget to the parliament soon along with a medium-term economic program and a medium-term financial plan.

"All of the three will be announced as a package one after another end of September or early in October," Ali Babacan on Wednesday told a live interview on private Turkish news channel NTV.

Several government officials have earlier said that the next year's budget would not be made according to a planned fiscal reform -- or the fiscal rule -- which was scheduled for 2011.

The reform, that would replace the IMF funds as an anchor, aims at cutting the budget deficit to 1 percent of GDP in 10 years and the debt-to-GDP ratio to some 30 percent in 5-10 years.

The government officials have announced the reform would not be implemented until 2012 with Turkish finance minister giving assurances that the delay would not give way to a spending spree to upset plans to reduce budget deficit ahead of general elections next year.

Babacan said he had made a decision not to voice any comments over the delay in the implementation of the fiscal reform, which he said would have made Turkey "a much more predictable country."

"I will not make any statements about the fiscal rule for quite sometime," Babacan said in response to a question whether the plans for the fiscal rule had been postponed or shelved all together.

"With or without the fiscal rule, we have to stick with the financial discipline, to which we owe achievements we have made in the last 7-8 years," he said.


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Last Mod: 25 Ağustos 2010, 17:14
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