Industry / Turkey
Health Expenditure Weighs On Public Finances
February 2008 | Industry NewsPublic health expenditure is reaching unsustainable levels, according to figures released by the Turkish Treasury that detail the government's 2007 budget. Turkey's social security deficit was TRY25.82bn (US$21.83bn) in 2007 - twice the government target - and a major contributor to the overall budget deficit, which widened to 2.1% of GDP. While BMI's country risk team consider the 2007 budget deficit to have been exacerbated by a one-off fiscal loosening in response to the 2007 general election, we believe the social security budget shortfall provides further evidence that reform in this area is
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