ECONOMY
Date published: 2 August 2023 18:35
Modified On: 3 August 2023 15:37

Increase in expenses of state institutions outpaces inflation rate in Turkey

The expenditures of ministries and other state institutions more than doubled in the first half of the year compared to the same period in 2022, shows an official report.

İstanbul
Increase in expenses of state institutions outpaces inflation rate in Turkey

A newly released report by the Presidency has shown that many ministries and state institutions have witnessed expenditure increases of more than two-fold compared to the previous year.

Among the institutions with the most pronounced surge in expenditures is the Disaster and Emergency Management Authority (AFAD). AFAD's spending skyrocketed from 966.6 million lira to 66.2 billion lira during the first half of this year (1 US dollar = 26.97 Turkish lira). Notably, this increase is mostly attributed to the devastating earthquakes that struck 11 provinces in February, claiming the lives of over 50,000 people according to official figures.

The increase in expenses has surpassed the official inflation figures, as the annual inflation rate stood at 38.21 percent and the 12-month rolling average at 59.95 percent in June, adding to the criticism over the credibility of Turkey's official inflation figures.

According to the Inflation Research Group (ENAG) the country's 12-month rolling inflation rate was over 108 percnet in June. Addiitonally, in November 2022, the revaluation rate for this year was announced as 122.97 percent.

Increases in the expenditures of the ministries:

  • Transportation and Infrastructure Ministry: 35.2 billion to 72.5 billion lira
  • Family and Social Services Ministry: 39.3 billion to 98.7 billion lira
  • Energy and Natural Resources Ministry: 4.6 billion to 10.6 billion lira
  • Culture and Tourism Ministry: 3.9 billion to 7.6 billion lira
  • Industry and Technology Ministry: 5.9 billion to 16.1 billion lira
  • Environment, Urbanization, and Climate Change Ministry: 3.8 billion to 25.6 billion lira
  • Trade Ministry: 3.1 billion to 7.5 billion lira
  • Youth and Sports Ministry: 20.1 billion to 38.5 billion lira
  • Agriculture and Forestry Ministry: 40.1 billion to 71.6 billion lira
  • National Education Ministry: 112.1 billion to 245.5 billion lira
  • Treasury and Finance Ministry: 599.4 billion to 1.1 trillion lira
  • Foreign Affairs Ministry: 4.7 billion to 6.7 billion lira
  • Interior Ministry: 8.9 billion to 18.1 billion lira
  • National Defense Ministry: 46.6 billion to 94.5 billion lira
  • Justice Ministry: 19.7 billion to 43.3 billion lira

(VK)

Presidency budget vk
https://bianet.org/haber/increase-in-expenses-of-state-institutions-outpaces-inflation-rate-in-turkey-282321
2024-05-20 12:28:31