Turkish presidency submits 2019 budget to parliament

Turkish presidency on Thursday submitted a motion to the parliament for the nation's 2019 budget for the first time under the new presidential system.

Treasury and Finance Minister Berat Albayrak is set to present the budget to parliament's Planning and Budget Commission on Oct. 23.

The budget will be debated at the commission as of Oct. 30 for two weeks at least.

Later, it will be debated at the general assembly in early December, where a heated exchange is expected ahead of upcoming local elections on March 31.

Turkey targets 949 billion Turkish lira in expenditures for public agencies and 867.29 billion Turkish lira in general revenue in 2019.

The Turkish economy grew by 5.2 percent in April-June period, preceded 7.3 percent in the first quarter of 2018, 7.3 percent in Oct.-Dec. 2017, and 11.5 percent in the third quarter of 2017.

Ankara targets 3.5 percent growth in 2020 and 5 percent by 2021, according to the new economic program announced by Albayrak on Sep. 20.