Evaluation of MTP and Economy by Treasury and Finance Minister Şimşek
Mehmet Şimşek stated during his speech at the Medium Term Program introduction that it is critical that inflation did not spiral out of control despite the challenging conjuncture.
Treasury and Finance Minister Mehmet Şimşek made statements at the introductory meeting of the Medium Term Program covering the 2027-2029 period. Emphasizing the importance of inflation not spinning out of control, Şimşek evaluated public savings measures, the fight against informal economy, and production supports.
Medium Term Program and Global Conjuncture
Treasury and Finance Minister Mehmet Şimşek stated that they are in a difficult geography where multiple shocks are experienced globally and in a period of high uncertainties. He emphasized that the most important benefit of the program is the increase in predictability.
Public Savings Measures and Budget Data
Stating that the claims that savings are made by reducing investments do not match reality, Şimşek noted that there is no decrease in the share of public investments within national income, but rather a modest increase.
He announced that thanks to the published savings circular, the ratio of expenditure items within the budget dropped from 4.6 percent to 2.9 percent, and 484 billion TL of savings were achieved during this process.
Fight Against Informal Economy
Conveying that voluntary compliance is prioritized in the fight against informality, Şimşek explained that tax audits focused on large-scale companies and that the audit rate in large companies tripled.
Production and Export Supports
Stating that they stand by industrialists and the producing segment, Şimşek expressed that rediscount credits were increased at significant rates and that interest-subsidized loans for farmers and tradesmen are being sustained decisively.