Ankara: Turkey proposed a $138.5 billion ($18.53 billion) capital spending budget for 2021, with telecom and infrastructure programs attracting the highest investment funds.
The policy, published in the Official Gazette, supported almost $6 billion for public spending in the transport and communications sector in 2021, and another $2.6 billion for education programs. Other fields of investment include manufacturing, wellness, agriculture, tourism, and energy.
Turkey’s Ministry of Transport and Irrigation will receive some $2 billion under the program, while the State Hydraulics Works (DSI) will obtain $1.8 billion and the Highways Directorate $1.75 billion.
President Tayyip Erdogan, who has been in office for nearly 20 years with five straight election wins, enjoyed a steady yearly increase of about 5% until 2018, fueled by cheap foreign loans and “mega-projects” ranging from bridges and tunnels to roads, hospitals, and other development.
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