August 10, 2018 / 1:16 PM / in 2 months

Turkey cost-cutting in public sector, to secure 35 bln lira, Albayrak says

ISTANBUL, Aug 10 (Reuters) - Turkey has taken strong cost-cutting steps in the public sector to meet its year-end targets and has moved to secure 35 billion lira ($5.6 billion) through savings and increased revenue, Treasury and Finance Minister Berat Albayrak said on Friday.

Albayrak, who is President Tayyip Erdogan’s son-in-law, spoke at a presentation to announce the government’s new economic policy. He said Turkey will shift to a more effective model for funding mega-projects.

Albayrak did not take questions at the end of the presentation. ($1 = 6.3100 liras) (Reporting by Humeyra Pamuk and Ezgi Erkoyun; Writing by David Dolan)

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