Turkey bares $18.5 billion public investment plan for 2021

Turkey has unveiled a 138.5 billion lira ($18.53 billion) public investment programme set for this year, with transportation and communication sectors getting the largest allocation of the investment funds.

Published in the Official Gazette on Friday, Turkey will embark on a public investment programme that is seen to boost its virus-beaten economy. Almost $6 billion of the said investment programme will be allocated to the communications and transportation sectors and another $2.6 billion for the education sector.

Other sectors with fund allocation from the project include tourism, manufacturing, energy, health, and agriculture.

Moreover, the programme underscores a $2 billion fund allocation to Turkey’s Transport and Infrastructure Ministry, while the State Hydraulics Works (DSI) will be given with $1.8 billion and the Highways Directorate $1.75 billion.

President Tayyip Erdogan, who has been ruling the country for almost two decades, had stirred the country to a steady 5% annual economic growth until 2018 brought by its mega construction projects including highways, bridges tunnels, and hospitals.