The procedure for the 2016 budget preparations was determined and if establishing an assembly is delayed, a temporary budget will be drawn up.
Turkey is getting prepared for snap elections on Nov. 1 after political parties failed to form a coalition government after the general elections held on June 7. The temporary government in power has to present an annual budget draft law by the end of Sept. 17, according to the Public Finance Management and Control Law. The Finance Ministry and Development Ministry will present the Medium Term Program and the Medium Term Financial Plan as well as the annual budget. Negotiating the budget law will be determined in the process of establishing a new assembly and government. If it is delayed, 2016 will start with a temporary budget. If budgets aren't approved in the National Assembly before the year starts, they cannot be practiced, according to the Public Finance Management and Control Law. In case it is not approved in the National Assembly within the allocated time, it is obligatory to set a temporary budget. Temporary budgets, which are valid for six months, have to be accepted as law in the National Assembly. According to the 2015-2017 Medium Term Program, the main changes in the 2016 budget are as follows: TL 506.8 billion ($170 billion) for spending (TL 452.8 billion without interest and TL 54 billion for interest), TL 491 billion for income, TL 427.9 billion for general budget tax, TL 63.2 billion for others, TL 15.8 billion for budget balance and TL 38.2 billion for noninterest surplus.
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