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- October 12, 202619°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,194.50-0.52%
- INTEREST37.00%-1.00
- BITCOIN83,014-0.79%
- October 12, 202619°
No new projects will enter the 2027 public investment program except when necessary
A directive signed by President Recep Tayyip Erdoğan says that savings and efficiency targets will guide preparations for the 2027 Public Investment Program. Except in necessary cases, no new projects are planned for inclusion, while priority will be given to ongoing investments that can be completed soon.
A directive signed by President Recep Tayyip Erdoğan sets out the priorities and principles for preparing the 2027 Public Investment Program. The directive states that implementation of the Twelfth Development Plan, covering the 2024–2028 period, is continuing.
The aim is to support sustainable growth by preserving macroeconomic stability, increasing production and raising the welfare of society. In this context, priorities include achieving savings in public spending, reducing inflation, maintaining price stability and increasing domestic savings.
The directive states that the aim is to reduce the current account deficit and preserve macroeconomic and financial stability by strengthening public fiscal balances and fiscal discipline.
Efficiency prioritized in public investments
The allocation and efficient use of resources earmarked for public investments in a way that makes the greatest contribution to the policies targeted for the coming period was established as a fundamental principle. Economic and social infrastructure investments will continue to receive priority in order to increase the speed and quality of public services.
Public investments will be designed to complement private-sector investments, and emphasis will be placed on innovative and productive investments and projects that support trade. Alongside infrastructure investments that improve the business, production, investment and living environment, priority will be given to areas serving urgent social needs and productive activities.
Maximum care will be taken to ensure that investments are completed cost-effectively, efficiently and on time, that the existing capital stock is used more effectively, and that investment spending is converted into economic and social benefits.
Restriction on new projects under savings measures
The directive states that the objectives, policies, priorities and fiscal framework set out in the Twelfth Development Plan and the Medium-Term Program covering the 2027–2029 period will guide preparations for the 2027 Public Investment Program. The strategic plans of public administrations will also be taken into account, provided that they are aligned with the Medium-Term Program.
In proposing and allocating project-based appropriations, priority will be given to ongoing priority projects that can be completed in the shortest time. As part of the savings measures, no new projects will be included in the 2027 Public Investment Program except in necessary cases.
Maintenance and repair work will be emphasized to ensure the highest possible use of the existing public fixed-capital stock. Public institutions were asked not to propose projects that do not directly serve citizens’ urgent needs or contribute to increasing added value in the economy.
Proposals will be submitted through the Public Investments Information System
Public institutions must take into account the priorities, principles and investment ceilings set out in the Guide for Preparing the 2027–2029 Public Investment Program. Within their investment ceilings, institutions will submit project-based change proposals to the Presidency of Strategy and Budget through the Public Investments Information System.
The directive’s annex includes the Guide for Preparing the 2027–2029 Public Investment Program and tables on investment ceilings.
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