Şimşek: Tax updates will be according to inflation targets.

Important Statements from Minister of Treasury and Finance Şimşek

In the Turkish Grand National Assembly (TGNA) Planning and Budget Commission, Minister of Treasury and Finance Mehmet Şimşek shared information regarding the ministry's budget discussions. He stated that they have successfully exited the currency-protected deposit (KKM) application, predicting that the KKM balance will decrease to 171 billion TL by October 24, 2025 and that it will drop below 5 billion TL by the end of the year.

Tax and Fee Updates

Şimşek stated that they are considering updating taxes and fees based on inflation targets rather than the revaluation rate. In this context, he emphasized that updates could be made with lower rates, depending on budgetary possibilities.

Financial Stability and Risk Perception

In his presentation, Şimşek drew attention to the improvement of the risk perception towards the country alongside the strengthening of financial stability, reporting that the risk premium has decreased from 700 basis points before the program to below 250 basis points.

Monitoring of Public Expenditures

Minister Şimşek indicated that they are comprehensively tracking 257 public administrations with the 'Saving Measures Information System' and reported that audits have been conducted in 1,958 expenditure units so far, with the results shared with the Presidency and relevant administrations.