In the circular published with the signature of President Recep Tayyip Erdoğan, it was stated that the Twelfth Development Plan was implemented in the 2024-2028 period to maintain macroeconomic stability, increase production and raise the welfare level of society in line with the aim of raising the welfare and happiness of citizens to higher levels.
In the circular, it was emphasized that the main priority is to make savings in public expenditures in order to achieve sustainable growth, which is the main goal in this period, to maintain price stability by reducing inflation, to increase domestic savings, to reduce the current account deficit, to further strengthen public financial balances and fiscal discipline, and thus to protect macroeconomic and financial stability. It was stated that within the framework of these goals and priorities, the allocation and efficient use of resources allocated to public investments in order to increase the speed and quality of public services in a way that will contribute to the targeted policies for the next period at the maximum level will be the main principle.
The circular emphasized that while maximum savings will be made from public investment expenditures, priority will continue to be given to economic and social infrastructure investments that support the development potential, and included the following statements:
“Public sector investments will be designed and implemented in a holistic manner to complement private sector investments. Public investment priorities will be determined to support innovative and productive investments and trade by the private sector, and priority will be given to qualified infrastructure investments that improve business, production, investment and living environments. While resources allocated to public investments are directed to infrastructure areas that will meet priority social needs and support productive activities, utmost care will be taken to ensure that investments are made cost-effectively, efficiently and on time, that existing capital stock is used more effectively and that investment expenditures are converted into economic and social benefits as soon as possible.”
EMPHASIS ON “SAVINGS MEASURES”
In the circular, it was stated that the objectives, policies, priorities and financial framework in the Twelfth Development Plan and the Medium Term Program (MTP) prepared in line with this will be taken as basis in the preparations for the 2025 Investment Program, and it was also emphasized that the strategic plans of public administrations will also be taken into account in the preparations, provided that they are compatible with the MTP.
In the circular, it was underlined that in project-based appropriation proposals and allocations, priority would be given to ongoing priority projects that could be completed in the shortest time possible, and the following was noted:
“Within the scope of savings measures, no new projects will be included in the 2025 Investment Program except in cases of necessity. Importance will be given to the necessary maintenance and repairs to utilize the existing public fixed capital stock at maximum capacity, and projects that do not directly serve the urgent needs of our citizens and the increase in added value in the economy will not be proposed.”
The circular stated that all institutions should take into consideration the priorities, principles and investment ceilings specified in the “2025-2027 Period Investment Program Preparation Guide” and the issues specified in the preparation of the 2025 Investment Program, and that they should urgently send their project-based change proposals, if any, to the Strategy and Budget Presidency through the Public Investment Information System (KaYa) at the address “kaya.sbb.gov.tr”, provided that they remain within the ceiling, in accordance with the “Investment Requests Announcement” of the Strategy and Budget Presidency dated 13 June 2024.
The 2025-2027 Investment Program Preparation Guide was included in the annex of the circular.
