Within the scope of the preparations for the 2022-2024 Period Investment Program, it was stated that while the public investment expenditures will be saved at the maximum level, the economic and social infrastructure investments that support the development potential will continue to be given priority.
The Presidential circular regarding the preparations of the Investment Program for the 2022-2024 Period was published in the repeated issue of the Official Gazette with the signature of President Recep Tayyip Erdoğan.
In the circular, it was stated that the Eleventh Development Plan was implemented in the 2019-2023 period in order to maintain macroeconomic stability, increase production and raise the welfare level of the society in line with the aims of raising the welfare and happiness of citizens to higher levels, and the following statements were included:
“In order to achieve sustainable growth, which is our main target in this period, our main priorities are to save on public expenditures, to maintain price stability by lowering inflation, to increase domestic savings, to reduce the current account deficit, to further strengthen public fiscal balances and fiscal discipline, and thus to maintain macroeconomic and financial stability. Within the framework of these targets and priorities, our basic principle will be the allocation and efficient use of the resources allocated for 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 coming period.
Priority will be given to qualified infrastructure investments
Regarding public investment expenditures, the following was noted in the circular:
“While saving maximum public investment expenditures, priority will be given to economic and social infrastructure investments that support the development potential. Public sector investments will be designed and implemented with a holistic approach to complement private sector investments. Public investment priorities are to ensure innovative and productive investments and trade of the private sector. Quality infrastructure investments that improve the business, production, investment and living environment will be prioritized.Resources allocated to public investments will be directed to infrastructure areas that will meet priority social needs and support productive activities, while ensuring cost-effective, efficient and timely realization of investments, increasing the existing capital stock. Utmost care will be taken to use them more effectively and to transform investment expenditures into economic and social benefits as soon as possible.
In the circular signed by President Erdoğan, it was emphasized that the objectives, policies, priorities and financial framework included in the Medium Term Program for the 2022-2024 period will be taken as basis in the preparations for the 2022 Investment Program.
Priority will be given to those that can be completed as soon as possible.
In addition, in accordance with the Medium Term Program, the circular stated that the strategic plans of public administrations will also be taken into account in the preparations, and the following was shared:
“In the project-based appropriation proposals and allocations, priority will be given to the priority projects that can be completed as soon as possible. Within the scope of saving measures, no new projects will be included in the Investment Program for the Year 2022 except in obligatory cases. Necessary maintenance and repairs are important in order to utilize the existing public fixed capital stock at maximum capacity. Projects that do not directly serve the urgent needs of our citizens and the increase in added value in the economy will not be offered.
In the circular, which is also included in the “2022-2024 Period Investment Program Preparation Guide”, all institutions should consider the issues stated in the circular and the priorities, principles and investment ceilings emphasized in the guide in the next period regarding the 2022 Investment Program preparations, provided that they remain within the ceiling, In the investment proposals sent by the Strategy and Budget Presidency based on the Investment Demands Announcement dated June 23, 2021, they were requested to immediately send their project-based change proposals to the Strategy and Budget Presidency via the Public Investments Information System (KaYa) located at the “kaya.sbb.gov.tr” address.