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"For example, some items like privatization revenues will come straight to the budget. In this situation, tax collection connected to an economic slowdown could fall, VAT collection could rise because of inflation, but with the new sources of revenue the budget deficit is expected to remain at 12-13 billion YTL ($9.6-$10.4)," one uncited official was quoted as saying by Reuters.
At the weekend the Turkish government announced a new economic program, under which it cut the primary surplus target -- a closely watched measure of a country's ability to pay its debt -- and said it planned to increase investment in its GAP project in the southeastern
Currently, privatization revenue is used to pay off
As part of the new program,Â
"The transfers to GAP will continue until the end of 2012," said another high level official, who also declined to be named. "The figures of 2.5 billion ($2 billion) and 1.3 billion ($1.1 billion)Â will be increased each year according to inflation."
The officials said the new program assumed a gross domestic product of 900 billion YTL ($721 billion) this year. That compares with last year's current price GDP figure of 856 billion YTL ($685 billion).
Economy Minister Mehmet Simsek said on Tuesday that growth was seen at around 4.5 percent this year.
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