I.M.F. Delegation Holds Contacts At Treasury

ANKARA - An International Monetary Fund (IMF) delegation headed by Turkey Desk Chief Juha Kahkonen continued their contacts at the Treasury Undersecretariat on Friday.
Sources said that IMF delegation had held contacts during the week except for the first day of the religious holiday.
Officials said that writing of letter of intent to be submitted to the IMF continued.
There is difference of opinion between Turkey and the IMF about the issue of income to be obtained through 'tax peace project'. Government officials insist on income target of 2.4 quadrillion Turkish liras (TL) while IMF estimates that this would be about 800 trillion TL. Tax incomes are important for achievement of 6.5 percent primary surplus target in 2003. If this expected tax income is failed to be obtained, IMF wants the government to take measures to increase income like increase in value added tax rates. However, the government is not in favor of such an increase.