(MENAFN)The Turkish central government's financial plan balance saw an almost 173 billion Turkish lira (USD24.7 billion) deficit in 2020, easily beating the target of 239 billion Turkish liras (USD34 billion), Turkey's leader declared on Friday, January 15th.
In spite of a year-on-year upsurge in the budget deficit in 2020, the government is intending for a lasting development in the number, stated Recep Tayyip Erdogan.
Turkey's central government budget balance saw a deficit of 123.7 billion Turkish liras (USD21.77 billion) in 2019, increased from 72.6 billion Turkish liras (USD14.8 billion) in 2018.
"If Turkey achieves its growth target for 2020, the budget-deficit-to-GDP ratio will hit 3.6 percent, beating the mid-term program target," stated the leader.
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