Ankara, Turkey – “We expect growth to be 0.3% this year,” Treasury and Finance Minister Lutfi Elvan said, noting that the growth process will not contradict the fight against inflation. The total budget proposal for 2021 was 570.2 billion pounds.
Treasury and Finance Minister Lutfi Elvan, speaking at the parliamentary Plan and Budget Commission, said the growth process would not contradict the fight against inflation.
“Restrictive measures against the outbreak have negatively affected economic activity. Export and tourism revenues were negatively affected as a result of measures such as the contraction in external demand caused by the epidemic and the closing of doors. As a result of these developments, the economy contracted by 9.9 percent in the second quarter of the year.
With the recovery in domestic demand and the reflection of foreign demand to normal levels and our growth preference supporting exports, we will enter a period of stable growth in 2022 and 2023. We expect growth this year to be 0.3%. The unemployment rate is projected to be 13.8 percent in 2020. ” said.
Elvan stated that they will make reforms for the development of the investment environment, “we will implement measures that will increase prosperity.The Treasury’s cap on guaranteed loans fell to 3.1 percent. With stable policies, we will reduce the country’s risk premium.” description found.
Elvan, who said that the total budget proposal for 2021 is 570.2 billion TL, said: “when interest is excluded, the budget proposal is 390.6 billion TL. The amount of resources allocated for interest expenses is 179.5 billion TL.” said.