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Turkey: 2022 budget size is ₺1 trillion 751 billion

Vice President Fuat Oktay announced that 2022 budget expenditures are ₺1 trillion 750 billion 957 million and budget revenues are ₺1 trillion 472 billion 583 million. The lion’s share of the budget was allocated to education.

Preparations for the 2022 budget have been completed.

Vice President Oktay held a press conference on the 2022 Central Government Budget Law Proposal at the Presidential Complex.

He stated that as of today, the proposal is ready to be submitted to the Turkish Grand National Assembly by President Erdogan.

Pointing out that there are 224 public administrations’ budgets, Oktay said, “In the Central Government Budget for 2022, budget expenditures are foreseen as ₺1 trillion 750 billion 957 million, budget revenues ₺1 trillion 472 billion 583 million and budget deficit ₺278 billion 374 million. The ratio of budget deficit to gross domestic product is estimated to be 3.5%.”

Oktay also shared the distribution of 2022 budget appropriations according to economic classification. He stated that a total of ₺493.9 billion was allocated for personnel expenses, ₺128.1 billion for goods and service purchases, ₺657.3 billion for current transfers, ₺132.3 billion for capital expenditures, ₺10 billion for capital transfers, ₺61.6 billion for lending expenses, ₺27.4 billion for reserve appropriations and ₺240.4 billion for interest expenses.

LION’S SHARE EDUCATION

Vice President Oktay stated that 15.6% of the 2022 budget is allocated to education, and said, “We are increasing the investment budget of the Ministry of National Education from ₺11.3 billion to ₺15.2 billion with an increase of 35%.”

When higher education is included, the education budget will increase by 29.4% compared to 2021 and reach ₺273.5 billion.

Oktay announced that the share of the budget allocated to health has been increased to 7%, and a total of ₺304.6 billion has been allocated to the health field.

EXPORT BREAK RECORD

Reminding that the 1.8% growth momentum achieved last year was continued with the growth rates of 7.2% in the first quarter and 21.7% in the second quarter of 2021, Oktay announced that exports reached $212 billion on an annual basis, breaking a new record in the history of the Republic.

THE TRANSITION TO THE GREEN ECONOMY IS COMING TO THE FORE

He emphasized that the budget is of a nature that will accelerate the transition to a green economy, supporting carbon-neutral investments and processes, by focusing on the green transformation that cuts horizontally across all sectors.

Source: NTV / Translated by Irem Yildiz

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