In 2023, Turkey's road infrastructure maintenance expenditure measured 0.838 Billion New Turkish Liras, seeing a slight decline of 1.3% from the previous year. Over the past decade, the expenditure has shown fluctuating trends, with significant drops in 2015 and 2020 and various minor increases and decreases observed in intervening years. Notably, the compound annual growth rate (CAGR) over the last five years recorded a decrement of 1.31%. Immediate forecasts from 2024 onwards predict a continued downward trajectory, with a forecasted five-year CAGR of -1.12% which translates to a total decline of 5.49% by 2028.
Future trends to watch for:
- Potential government initiatives to bolster infrastructure spending which might counteract the forecasted downward trend.
- Impact of macroeconomic factors and inflation rates on actual expenditure versus forecasted values.
- Technological advancements in infrastructure maintenance that could lead to more cost-efficient practices.