Turkey’s 2020 budget has been passed in Turkey’s parliament. 316 members of parliament voted in favour of the budget, with 193 voting against in the early hours of the morning of December 19th, 2020. Members of parliament from the ruing Justice and Development Party (AKP) and the opposition Nationalist Movement Party (MHP) voted in favour of the bill.
The Turkish government has budgeted expenditures totalling TL 1,346.1 billion (USD 169.6 billion), including TL 1,166.6 billion (USD 147 billion) in non-interest expenditure and TL 179.5 billion (USD 22.6 billion) in interest expenditure. The lions’s share of expenditure has gone to education with 211.4 billion Turkish liras (USD 26.5 billion)
Total revenues were projected at TL 1,101.1 billion (USD 138.8 billion), with tax revenues at TL 922.7 billion (USD 116.3 billion).
The budget deficit for 2021 is TL 245 billion liras (USD 30.9 billion).