Budget excesses predicted for end of year Pressures leading to possible excesses in budget expenditures by the end of 1998 are being observed as figures in the first half of the year are higher than predictions. This is primarily due to the swelling of consumer loans and to the new salary scale, and deduced by data concerning the implementation, on a cash basis, of the 1998 budget in the first half of the year publicised yesterday by the General Accounting Office. According to the data, the budget's first stage expenditures over the first six months, on a cash basis, increased by 12.2 per cent, while the budget had anticipated an increase in the region of 4.5 per cent. This target is difficult to achieve if the increase in first stage expenditures continues at the same rate in the second half of the year. The largest increase was 25.7 per cent in consumer expenses, while the budget anticipated an increase of only 5.8 per cent.
Greek enterprises are already active in the neighbouring country in the form of joint ventures.
However, the specific investment has a broad natur e and profits totalling US250 million are expected over the coming years. Apart from this, cooperation between Greek and Turkish companies gives a reply to the deadlock in bilateral relations and can function as a bridge towards detente. The cooperation agreement is aimed at the creation of three units producing seed plants and seeds, unique in their kind for the neighbouring country, which will play a considerable role in the development of the Turkish agricultural industry. These units will operate in southern, southeastern and northern Turkey. It is an investment whose completion is expected in 1999, when the first products will circulate in the Turkish market.