Download ORTA VADELİ MALİ PLAN (2011

MEDIUM TERM FINANCIAL PLAN
(2011 - 2013)
Date : 8/10/2010
Decision No : 2010/28
• INTRODUCTION
• I. KEY ECONOMIC INDICATORS AND POLICIES
THAT THE CENTRAL GOVERNMENT BUDGET IS
BASED ON
• II. CENTRAL GOVERNMENT BUDGET FIGURES
• III. CENTRAL GOVERNMENT BUDGET DEFICIT
FINANCING
• IV. THE INSTITUTIONAL BUDGET PROPOSAL
CEILINGS AND ISSUES RELATED TO THE
BUDGET PROCESS
INTRODUCTION
• Designed to be compatible with the Medium Term Programme.
• Prepared by the Ministry of Finance and adjudicated upon by the High
Planning Council.
• Aims to raise people's living standards.
• I. KEY MACRO ECONOMIC INDICATORS AND
POLICIES THAT THE CENTRAL GOVERNMENT
BUDGET IS BASED ON
• A. Basic Macroeconomic Indicators
• B. Basic Policies Regarding Budget
Expenditures
• C. Basic Policies Regarding Budget Revenues
A. Basic Macroeconomic Indicators
Tablo 1- Basic Macroeconomic Indicators
2011
2012
2013
GDP Growth (%)
4,5
5
5,5
GDP (Billion TL, Current Prices)
1.215
1.343
1.485
GDP (Billion USD, Current Prices)
781
847
913
Year-end CPI (%)
5,3
5,0
4,9
B. Basic Policies Regarding Budget Expenditures
• Aims to give stability to grow, to increase employment and improve public
balances.
• Budget deficit and debt stock to national income ratio will be reduced.
• In accordance with the monetary and incomes policy, Fiscal policy will be
carried out to ensure the achievement of medium-term fiscal targets
regarding budget deficit, the primary balance and revenue –expenditure .
• During Financial Plan period, more attention will be given to expenditures
that support growth and employment and expenditures that reduce
regional disparities.
• In the Medium and long-term more emphasis will be given to
infrastructure investments that support economic efficiency and
productivity.
B. Basic Policies Regarding Budget Expenditures
• Public investments will be concentrated in the economic and social
infrastructure projects mainly in the Southeastern Anatolia Project,
Eastern Anatolia Project, Konya Plain Project.
• During the Financial Plan period food security and sustainable use of
natural resources and ensuring the accountability will be respected.
Agricultural support so as to secure income and price stability, production
efficiency due to differentiated product will be organized.
• During the period of 2011-2013 ,under the scope of Public Financial
Management and Control Law No. 5018, to improve the administrative
capacity of public administration and to fulfill the duties and
responsibilities in financial management and control, activities to improve
the administrative capacity will be intensified.
C. Basic Policies Regarding Budget Revenues
• The main objective of fiscal policies that will be implemented
in the Fiscal Plan ; growth, supporting investment and
employment and reducing underground economy
• For this purpose, stability in the implementation of tax
policies and will be predictability in taxation will be the
principal.
• Tax system efficiency will be reviewed , concerning simplicity,
of justice in taxation.
• Battle Strategy Action Plan Against Underground Economiy
the will be updated in the light of practical experience.
II. CENTRAL GOVERNMENT BUDGET
FIGURES
A. Central Government Budget Balance
Table 2- Central Government Budget Balance and Primary Surplus
2011
Central Government Budget Balance (Million TL)
Central Government Budget Balance/ GDP (%)
Primary Surplus ( million TL)
Primary Surplus ( million TL)/ GDP (%)
2012
2013
-33.493
-32.261
-24.359
-2,8
-2,4
-1,6
14.007
20.239
25.641
1,2
1,5
1,7
Table 3- Programme Defined Budget Figures
2011
2012
2013
Central Government Budget Primary Expenditures (mioTL)
264.919
286.717
309.002
21,8
21,3
20,8
265.359
292.146
321.261
21,8
21,7
21,6
440
5.429
12.259
0,04
0,40
0,83
Central Gov. Budget Primary Expenditures / GDP (%)
Central Government Budget Revenues (Million TL)
Central Government Budget Revenues / GDP (%)
Central Government Primary Balance (Million TL)
Central Government Primary Balance / GDP (%)
B. Central Government Budget
Expenditures
Table 4- Central Government Budget Expenditures on the basis of Economic Classification
(Million TL)
Central Government Budget Expenditures
Primary Expenditures
-Personnel Expenses
-State Contribution Expenditures to Social Security Agencies
-Expenditures for goods and services procurement
-Current Transfers
- Capital Expenditures
- Capital Transfers
- Lending
-Reserve appropriation
Interest Expenditures
2011
2012
2013
312.519
339.317
359.103
265.019
286.817
309.102
72.299
78.164
84.064
12.737
13.749
14.662
30.049
31.718
33.347
115.778
125.849
136.556
21.635
24.270
26.804
4.300
4.568
4.899
6.436
6.793
7.013
1.784
1.706
1.757
47.500
52.500
50.000
Table 5-Central Government Budget Expenditures to GDP Ratio (%)
2011
Central Government Budget Expenditures
Primary Expenditures
-Personnel Expenses
-State Contribution Expenditures to Social Security Agencies
-Expenditures for goods and services procurement
-Current Transfers
- Capital Expenditures
- Capital Transfers
- Lending
-Reserve appropriation
Interest Expenditures
2012
2013
25,7
25,3
24,2
21,8
21,4
20,8
6,0
5,8
5,7
1,0
1,0
1,0
2,5
2,4
2,2
9,5
9,4
9,2
1,8
1,8
1,8
0,4
0,3
0,3
0,5
0,5
0,5
0,1
0,1
0,1
3,9
3,9
3,4
C. Central Government Budget Revenues
Table 6- Central Government Budget Revenues
(Million TL)
Central Government Budget Revenues (Net)
Central Government Tax Revenues (Net)
2011
2012
2013
279.026
307.056
334.743
232.220
255.902
281.909
Table 7- Central Government Budget Revenues to GDP Ratio (%)
2011
Central Government Budget Revenues (net) / GDP
(%)
Central Government Tax Revenues (net) / GDP (%)
2012
2013
23,0
22,9
22,5
19,1
19,1
19,0
III. CENTRAL GOVERNMENT BUDGET DEFICIT FINANCING
Basic Principles of Debt Management
• * compatible
* sustainable
* transparent
* accountable
With the fiscal policy
Meet the MOST effective-cost in the medium and long-term
III. CENTRAL GOVERNMENT BUDGET DEFICIT FINANCING
Strategic Criteria for 2011-2013 Period
• Liquidity Risk
• Interest Rate Risk
• Exchange Rate Risk
Table 8- EU defined General Government
Nominal Debt Stock / GDP
2011
EU defined General
Government Nominal Debt
Stock / GDP(%)
40,6
2012
38,8
2013
36,8
IV. ISSUES RELATED TO THE INSTITUTIONAL APPROPRIATIONS
PROPOSAL CEILINGS AND BUDGETING PROCESS
A. Corporate Appropriation Proposal Ceilings
• Macroeconomic indicators
• Medium-term policy priorities set in the
program
• Needs of public administrations
• Important activities and projects
B. Subjects regarding the Budget Process
• Budget proposals in a manner consistent with the
preparation of a multi-year budgeting approach
• Conducting a healty relationship during the cooperation
and coordination of public authorities
• Preparing the budget proposals, and sending them to
the Ministry of Finance.
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