Simsek announces budget estimations for 2012

During a parliamentary debate on the 2013 budget on Monday, Finance Minister Mehmet Simsek noted they would take the necessary measures to control the estimated spending of 404 billion Turkish Liras on the 2013 budget in order not to deviate from its budget program. Presenting the 2013 Central Government Draft Budget at the Parliament, Simsek said, "We will establish an administrative mechanism to increase efficiency in spending and particularly examine the expenditures." Stating that Turkey's Gross National Product (GNP) would amount to 1.571 trillion TL in 2013, Simsek said, "It's estimated that Turkey's imports would amount to $253 billion, exports would equal $158 billion, growth rate would correspond to 4 percent and its year-end consumer price index would be 5.3 percent in 2013." Simsek also said that they could have successfully managed the soft-landing process, adding, "Despite global economic uncertainty, we aim to accelerate our growth process and reach our potential growth rate in 2014. We will continue to work on structural reforms as well. Furthermore, we attach importance to fighting informal economy, and ensuring quality in education and flexibility in labor market.