Turkish finance minister: Timing of reforms up to approval of budget

Published 15.11.2015 22:51

Finance Minister Mehmet Şimşek said that the government aims to realize structural economic reforms in the first quarter of 2016 if it is able to approve the budget in December with the support of opposition parties. "Turkey doesn't have a day to waste. Therefore, if we deal with the reforms instead of the budget in the first quarter, it will be for the benefit of Turkey," Şimşek, who is in Antalya for the G20 summit, told Anadolu Agency (AA).

Sharing his views on Deputy Prime Minister Cevdet Yılmaz's statement that with the support of the opposition, Parliament can pass the budget plan for 2016 this year, Şimşek said that without the support of the opposition, the budget will be delayed and they will not be able to implement the reforms as they aim to in the first quarter of 2016.The country's income per capita is around $10,500, whereas the economic targets eye far higher levels. The government aims to reach $25,000 in income per capita by 2023, which is the 100th anniversary of the Turkish Republic. The government had announced the second Package of Preferential Transformation Program before the general elections held on June 7. However, political instability didn't allow the process to start. The action plans propose comprehensive transformation in 25 areas to decrease dependency on imports, to commercialize technology, support domestic production, improve energy efficiency with local resources, support health industries and turn Turkey into a logistic hub for global trade.

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