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‘They cut our bread and pay the exchange rate difference to KKM’

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The Ministry of Treasury and Finance has published the central government budget data for April.

, the central government budget posted a deficit of 50.2 billion TL in April. The previous month, the budget had a deficit of 69 billion TL. According to the information released by the Ministry of Treasury and Finance, in April, central government budget expenditures were recorded as 214.3 billion TL and budget revenues as 164.1 billion TL. In April, a deficit of 31.03 billion TL was observed in primary stability.

Economist İris Cibre, speaking to Didem Ernez from, made statements about the payment of 4.5 billion TL to Currency Protected Deposits (KKM).

Stating that part of the exchange difference paid is covered by the central bank and partly from the treasury, Cibre said, “In addition to the 4.5 billion treasury payment, the Central Bank of the Republic of Turkey (CBRT) also has a foreign exchange difference payment. However, the Banking Regulation and Supervision Agency We do not know this amount as the BRSA has not given the breakdowns for a long time. If we assume that 54 percent of this 44.5 billion is paid through the Central Bank, this Center will cover 4.5 billion, for example, 2.5 billion, by printing money. The remaining 2 billion will be paid by the Treasury. “Assuming that the Treasury has paid the full amount, the Treasury will cover all of it by borrowing. or with our taxes. Right now, it actually has to borrow because there is a budget deficit,” he said.


Cibra used the following expressions in the continuation of his words:

“Agricultural producer inflation is 84.11 percent. It is a very important increase. The biggest reason for this is the word. It is due to the prices of diesel, fertilizer, seeds and the costs of some tools that they need. A large part of all this is imported and the costs increase with the increase in the exchange rate. These aids paid to the farmers are not enough. The farmers also speak loudly. We can see this from the price increases. “We see a new increase in food every month, especially in vegetables and fresh fruit. It is the same in wheat. Because of this, its reflection on the farmer is negative.”


He explained the emphasis he wanted to make in the post on his Twitter account:

“If the government’s priority were to supplement the farmers with the money they received from the KKM in order to keep the exchange rate stable, instead of putting them on the market through covert interventions, the rate of increase in food prices would be much slower.Because as long as you are a country that is competent in agriculture, you can slow down the rate of price increases.The number of agricultural places is always decreasing.The reason is that the farmer can no longer support himself. Because of this, the farmer immigrates to the big city and starts looking for a job. Inflation is likely to increase if you do not have enough basic food and you have to import them. We have seen in the example of sunflower rece ntly. Due to our dependence on foreign sources, the daily prices of sunflowers had increased unusually.

Finally, Cibra said, “Increasing subsidies It is necessary to support the farmer and the farmer as an important basis. Also, from an outside perspective, I think the farmer needs to be trained. Farmers should be supported with lower costs by focusing on how to produce more efficiently in order not to be dependent on foreign sources for food.”

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