Turkish PM forecasts 4.5 percent growth rate

Published October 30th, 2000 - 02:00 GMT

Turkish Prime Minister Bulent Ecevit announced last week the 2001 budget at $72.1 billion (48.4 quadrillion Turkish liras) and a forecasted 4.5 percent growth rate, reported the Middle East Times. The budget deficit for 2001 is projected at 3.1 percent. 


This year’s budget, based on a 5.5 percent growth rate, included expenditures of 46.7 thousand trillion Turkish liras and revenues of 32.5 thousand trillion liras. The 2001 budget foresees revenues of 43.1 quadrillion liras — 23.9 percent higher than the 2000 budget.  


In a statement released by the PM’s office, it said that the government would stay true to its word and further rein in inflation, which is presently at 49 percent. The PM office said earlier this month that a year-end target for 2001 would have inflation down to 10 percent in consumer prices and 12 percent in wholesale prices. 


The 2001 budget still must receive approval from parliament as well as a review by cabinet. — (Albawaba-MEBG)

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