Turkey's government announces a savings plan with spending cuts and efficiency boost for public institutions.
Turkey's government has announced a savings plan to cut public spending and boost efficiency, as part of its economic tightening program. The measures, introduced by Vice President Cevdet Yilmaz and Finance Minister Mehmet Simsek, include a three-year pause on vehicle purchases, rentals, and new building purchases for public institutions, as well as 10% and 15% cuts in funds allocated for public sector employment, energy and waste management, and communications. The plan aims to increase fiscal discipline and ensure price stability.
May 13, 2024
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