3/5/2012

Turkey to spend 3 percent of GDP on R&D by 2023

Sabah - Research and development (R&D) expenditure in Turkey is expected to take up 3 percent of the country’s GDP by 2023, the centennial of the republic, the Minister of Science, Industry and Technology, Nihat Ergun has said.

Speaking at a meeting on the future of the robotics industry in Turkey, Ergun said that up to 3 percent of Turkey’s GDP would be allocated to scientific R&D by the year the republic celebrates its 100th year. “The percentage of Turkey’s GDP allocated to R&D expenditure is steadily rising and has neared 1 percent,” said the Minister, noting that the country plans to have a GDP of about USD 2 trillion in 2023. “Turkey hopes to spend USD 60 billion in R&D efforts from 10 years from now. Two thirds of the R&D expenditure, around USD 40 billion, will be made by the private sector, while the government will account for the rest,” Ergun remarked.
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