Economic criticism of the government from Yeni Şafak: Companies are struggling with high interest rates
Yeni Şafak newspaper touched upon issues of high interest rates, foreign exchange deficit, and inflation, offering criticism and suggestions to the government regarding its economic policies.
Amid ongoing debates over high interest rates, foreign exchange deficits, and inflation in the Turkish economy, Yeni Şafak newspaper leveled various criticisms against the economic administration, emphasizing that companies are struggling in the high-interest-rate environment and sharing a series of policy proposals.
Chronic Problems in the Economy
While debates on high interest rates, foreign exchange deficits, and inflation continued in the Turkish economy, it was argued that one of the fundamental problems of the economy is the chronic foreign exchange deficit.
High Interest Rate Environment
It was emphasized that the high-interest-rate environment is straining companies and the production sector, and it was stated that companies remain under heavy pressure during this process.
Employment and Companies
It was noted that approximately 2.2 million companies in Turkey provide employment for 25 million people, engage in production, and carry a significant portion of the economy.
Foreign Trade Data
It was recorded that companies realized $400 billion in imports and $280 billion in exports, drawing attention to the foreign trade balance.
Foreign Currency Accounts
Criticism was raised over the fact that no tax is collected on the approximately $150 billion in foreign currency held by individual investors in banks, and criticisms regarding the current situation were shared.
Tax Practices
While it was stated that companies pay a 25 percent tax on foreign exchange earnings, it was argued that no tax is collected from individual foreign currency holders.
Central Bank Decisions
At its July 2026 meeting, the Central Bank kept the policy rate constant at 37 percent for the sixth time, citing concerns over foreign exchange increases as the justification.
Solution Proposals
Various measures were proposed, such as tax reductions on fuel, additional customs duties on imports, withholding tax increases, and the Presidential Aisle project in chain markets.