In 2022, budget expenditures were foreseen as 1 trillion 750 billion 957 million liras and budget revenues as 1 trillion 472 billion 583 million liras. Again, unable to bring the two sides of the budget together, the government predicted the budget deficit as 278 billion 374 million liras in the 2022 budget, and the interest expense as 240.4 billion liras, an increase of 61 billion liras compared to the previous year. The resource transferred to the said interest corresponds to one-seventh of the budget.
BUDGET DEFICIT INCREASED 33 BILLION LIRA
The budget marathon for 2022 begins in the Turkish Grand National Assembly. In the 2022 Budget, which is the 20th budget of the AK Party governments and the 4th budget prepared after the transition to the Presidential Government System, the first presentation was made by Vice President Fuat Oktay at the Parliamentary Plan and Budget Committee. In the 2022 Central Government Budget, Budget expenditures were calculated as 1 trillion 750 billion 957 million TL, and Budget revenues as 1 trillion 472 billion 583 million TL. The budget deficit was projected as 278 billion 374 million liras. In the 2021 Budget, the budget deficit was foreseen as 245 billion liras. Budget deficit increased by 33 billion liras in 1 year.
INTEREST INCREASED 61 BILLION TL
According to the proposal, tax revenues are expected to reach 1 trillion 430 billion liras this year, with an increase of 19.4 percent compared to last year. The highest increase is expected to be in the income tax. Interest expense took the lion's share in the Budget. While the interest expense was foreseen as 240.4 billion TL in the proposal, this figure revealed that the interest increase increased by 61 billion TL compared to the previous year. This situation revealed the situation in the economy.
304 BILLION LIRA RESOURCES FOR HEALTH
15.6 percent of the budget is 273.5 billion liras for education, 181 billion liras for defense and security units, 304 billion liras for health, 104.2 billion liras for social expenditures, 57.6 billion liras for agriculture, 68 billion liras for real sector support. A resource of 0.9 billion TL was allocated. It was noteworthy that the 240 billion lira allocated to interest was higher than many areas.
1 WEEK BREAK FOR PREPARATIONS
After the budget presentation, the commission work will be interrupted for about a week for the preparation of the commission members. The Parliamentary Plan and Budget Committee will hold discussions on the overall Budget on Tuesday, October 26. The negotiations on the 2022 budgets of the ministries and institutions will be completed on Friday, 26 November. Thus, the negotiations of the Budget in the commission will come to an end. Budget discussions will be held in the Parliament Ceremony Hall, which has a larger area due to the Covid-19 pandemic this year. In this context, necessary arrangements will be made in the Ceremony Hall by the Presidency of the Assembly.