The public sector is part of economic and administrative life that deals with the delivery of goods and services by and for the government, whether national or local/municipal. The public sector includes central government, local government, and public corporations.
- Central government includes all governmental administrative departments, other central agencies and non-departmental public institutions.
- Local government comprises all government units with a local remit.
- Public corporations are companies or quasi-corporations controlled by government.
Public administration should remain competitive in offering public goods and services in an increasingly integrated market, but this requests a lot of financial and technological resources which are not always available to them.
Loans to Public Sector
BKT play their important role on lending to the Public sector. Implementation of the Public Sector Strategy has led to the use of several new products to increase our effectiveness. It includes:
- Governance-oriented investment loans – longer or short term loans aimed primarily at local government institutions.
- Public enterprises loans – loans to enterprises still under the public ownership.
Within the broad array of governance issues, public finance has emerged as a high priority area, for both development and fiduciary reasons. Not only this is efficient and effective public spending critical to poverty reduction, but it is also a strong public expenditure management for the country development. The demand for good public expenditure and financial management has prompted the development of different programs. We are collaborating with different institution and we intend to extend this kind of relation in the future.
Public Sector Deposits
Public Sector activity free funds are mostly created for short periods. Also public sector employees are not prone to spend them immediately. BKT has offered them the possibility to better invest them in:
- Deposits with favourable interest rates for Public Entities.
- Deposits with preferential interest rates for public sector employees.