Austerity decision in public investments and restriction on new projects
With the aim of efficient use of resources in public investments and the continuation of austerity measures, restrictions have been introduced on new projects except in cases of necessity.
According to the new circular published with the signature of President Recep Tayyip Erdoğan, it was decided to efficiently use resources in public investments, maintain austerity measures, and not include new projects in the 2027 Public Investment Program except in cases of necessity.
Main Priorities and Austerity Targets
In the published circular, efficiently using resources in public investments, sustaining austerity measures, and transforming investments into economic and social benefits in the shortest possible time were highlighted among the main priorities.
Financial Balance and Development Plan
Stating that the Twelfth Development Plan is being implemented during the 2024-2028 period, it was reported that savings in public expenditures are targeted to ensure sustainable growth.
In this direction, the aims are to lower inflation, protect price stability, increase domestic savings, reduce the current account deficit, and strengthen public financial balances and fiscal discipline.
Restrictions Introduced on New Projects
Within the scope of austerity measures, it was announced that new projects will not be included in the 2027 Public Investment Program except in cases of necessity.
Existing Stocks and Maintenance-Repair
It was stated that great importance will be given to necessary maintenance and repairs to utilize the existing public fixed capital stock at maximum capacity.
Which Projects Will Not Be Proposed
It was emphasized that projects which do not directly serve the urgent needs of citizens and the increase of added value in the economy will no longer be proposed.