Emin Avundukluoglu
October 18, 2020•Update: October 19, 2020
ANKARA
The Turkish presidency on Sunday submitted a motion to parliament for the nation’s 2021 budget.
In the budget, the government allocates the lion’s share to education with 211.4 billion Turkish liras ($26.5 billion)
Budget expenditures were projected at 1.346 trillion liras ($169.6 billion). Also, non-interest expenses come to 1.166 trillion liras ($147 billion).
Budget revenues were projected at 1.101 billion liras ($138.8 million) and tax revenues at 922.7 billion liras ($116.3 billion). The budget deficit for next year was predicted at 245 billion liras (nearly $31 billion).
The budget will first go to parliament's Planning And Budget Commission.
In December it will be debated in the general assembly, where a heated exchange is expected.
The budget for 2021 will be the 19th budget of the ruling Justice and Development (AK) Party government and the second under the new presidential system of governance.
