CHP drew attention to borrowing: AKP continues its election preparations

In the current economic report of the Republican People’s Party (CHP) Turkish Grand National Assembly (TBMM) Group, attention was drawn to the “preparations” of the AKP government for the 2023 elections.

According to the report, the Treasury’s domestic and foreign debts increased by 1.2 trillion liras to 3.9 trillion liras in the first 11 months of this year, due to both new borrowing and exchange rate differences. 2.1 trillion lira of this debt stock consists of foreign debts. The interest burden to be paid until the maturity of the external debt stock was calculated as 817 billion liras. In addition, 65.4 percent of the Treasury’s debt stock consists of foreign currency and gold denominated debts taken from Turkey and abroad.

Again, according to the report, the net borrowing limit of 293 billion liras, which was 293 billion liras with the authority of the relevant minister to increase by 5 percent, was increased by 200 billion liras to 493 billion liras with the new legal regulation. billions of dollars accumulated.

In the first 11 months, while the Treasury paid 383.1 billion liras of domestic and foreign debt principal, it took a new loan of 764.9 billion liras. Therefore, a net borrowing of 381.8 billion liras was made. In the same period, the cash balance of the Treasury had a deficit of 36.3 billion liras. Pointing out that TL 36.3 billion of the borrowing was used to finance the cash deficit, TL 347.4 billion was saved in the bank accounts of the Treasury, the report said:


“The officials of the Ministry of Treasury and Finance announced that a net borrowing of 97 billion liras would be realized in December. According to the development of the December budget deficit, the Treasury will use a significant portion of this money, which it has saved by borrowing, to finance the election economy before the 2023 elections. The AKP is putting the Turkish economy at great risk to maintain its rule.”

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