Erdoğan: No New Projects in 2019 Unless Unavoidable

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The circular letter of President and Justice and Development Party (AKP) Chair Recep Tayyip Erdoğan concerning the "Preparations for the Investment Programme in the Period of 2019-2021", which has introduced the economic priorities and savings plans, has been published on the Official Gazette.

Erdoğan has stated that in the period of 2019 and 2021, when the New Economic Programme will be in effect, the primary goal will be "to stabilize the economy and achieve sustainable growth" and the main priority will be "to maintain the macroeconomic and financial stability."

Main priorities

Referring to the stabilization of the economy and sustainable growth as the primary goals of this period, Erdoğan has listed the main priorities as follows:

* Retrenching the public expenditures

* Maintaining price stability by reducing the inflation

* Increasing domestic savings

* Reducing the current accounts deficits

* Strengthening the public financial balances and fiscal discipline

* Maintaining the macroeconomic and financial stability

"First the projects that will end in the shortest time..."

In the letter, Erdoğan has stated that during the indicated period, "priority will be given to those projects, which will end within the shortest time."

Erdoğan has also said, "Except for unavoidable circumstances, no new projects will be included in the Investment Programme of 2019" and added:

"Those projects which do not directly serve to the pressing needs of the citizens or to an increase in value-added in economy will not be proposed." (EKN/SD)