Turkey: R&D spending to GDP ratio highest in a decade
Turkey's R&D expenditure to GDP ratio increased to 1.06% in 2019, says minister
- Türkiye
- Anadolu Agency
- Published Date: 12:43 | 23 October 2020
- Modified Date: 12:43 | 23 October 2020
Turkey's research and development (R&D) expenditure to GDP ratio increased to 1.06% in 2019, the highest in a decade, the country's industry and technology minister said on Friday.
"We broke the record for the past 10 years," Mustafa Varank wrote on Twitter.
He said 64.2% of all R&D spending and 56.3% of its financing came from the private sector.
According to the Turkish Statistical Institute, the government spent 14.9 billion Turkish liras ($2.6 billion) on R&D activities last year.
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