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Turkey cuts some budget expenditures by 10-16.5 pct

Published 12/25/2008, 09:56 AM
Updated 12/25/2008, 10:00 AM
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ANKARA, Dec 25 (Reuters) - Turkey's parliament accepted on Thursday a resolution to cut spending for some ministries by between 10 percent and 16.5 percent in 2009, parliament deputy speaker Meral Eksener said on Thursday.

Turkey is holding negotiations with the International Monetary Fund on a new loan programme, which is expected to include some spending cuts, to restore investor confidence as its economy has sharply slowed down.

(Editing by Andrew Callus)

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