Turkish parties to receive $144 million in state funding

The annual amount of funding is doubled during times of local elections, and tripled during years of parliamentary elections.

Turkish parties to receive $144 million in state funding

World Bulletin / News Desk

The three main Turkish political parties will be given treasury funding of 315.7 million TL ($144.8 million) ahead of the upcoming local elections to be held on March 30, according to a statement by the Finance Ministry.

The funding each party receives is determined based on the share of votes received in the most recent general elections.

According to the latest election results, the ruling Justice and Development Party (AK Party) will receive 177.1 million TL, the main opposition Republican People's Party (CHP) 92.3 million TL and the Nationalist Movement Party (MHP) 46.2 million TL.

In accordance with the Political Parties Law, the three parties entitled to state aid will be provided with double the annual amount of treasury funding.

The funding is set to be deposited into the three parties' bank accounts on Friday.

The annual amount of funding is doubled during times of local elections, and tripled during years of parliamentary elections.

In addition to the funds given to parties in Parliament, those which secure 7 percent of votes in general elections receive a different type of funding.

Last Mod: 10 Ocak 2014, 17:26
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