The Ministry of Finance and Finance is restructuring revolving fund companies that started in 1925 for the first time and whose budget exceeds TL 100 billion today.
Turkey’s first time “Agricultural Organization of Fixed Capital Law Vaz” number starting with today reached 2,300 revolving funds will be included in the central government budget gradually from next year.
THE LEGAL REGULATION WILL BE COMPLETED BY THE END OF THE YEAR
Legal regulation will be completed by the end of the year. To increase the efficiency of revolving funds, one of the public management modalities will be applied, the CEO model, in which qualified managers work.
THE TRANSITION STAGE BEGINS
Within the scope of the economic reform package announced by President Recep Tayyip Erdogan, policy changes are being made in revolving fund companies and off-budget special account practices to expand Parliament’s budget entitlement and increase accountability. accounts.
All steps to include revolving funds and special account requests in the budget will be taken before the end of the year. The Minister of Finance and Finance, Elvan, evaluated the steps to follow in this regard. Minister Elvan recalled that revolving funds and special account practices are not subject to the Public Finance Management and Control Law and the Public Procurement Law. Specifying that there are 46 special accounts, Minister Elvan said: “The mandatory ones will continue, but most of them will be included in the central government budget. The ministries and institutions have around 2,300 revolving funds and their budgets exceed one hundred billion lire. “We will gradually include these businesses in the central government budget,” he said.
BUSINESSES WITHOUT PRODUCT WILL BE CLOSED
In line with the reforms, inefficient revolving fund companies will be closed and others will be included in the central government budget and therefore under the control of the Assembly.
For the purpose of reviewing the revolving funds and closing the inefficient ones, steps will be taken again by the end of the year through the Presidential Decree, Presidential Decree and administrative decision.
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