The currency protection bill increased to 155 billion lira
Center Vice President Fuat Oktay explained the burden on the Central Bank of the Currency Protected Deposit account, which was not disclosed by Bank officials in the Planning and Budget Committee of the Grand National Assembly of Turkey, giving a percentage account. According to the information provided by Oktay, the resources transferred from the public budget and the resources of the Central Bank to those who have money in the bank amount to 155 billion lira.
Stating that the exchange rate guarantee is a minor burden for the Center, Oktay said that as of September, the money paid for the exchange rate guarantee from the budget is TL 84.9 billion, and the burden on the Central Bank is approximately 75 percent of this. It is estimated that the Central Bank paid approximately 63.7 billion lire to depositors through September for the exchange rate guarantee. However, officials from the Treasury and Finance Ministry announced that they had paid 88.4 billion lira as of October 10. When this account is taken into account, the payment of the Center reaches 66.3 billion lire. These data reveal that the total payment made by the Ministry of Finance and the Center is close to 155,000 million lire.
THE CENTER WILL EXPLAIN
A complaint was filed with the Central Bank, Fuat Oktay, who did not disclose the money transferred to the exchange rate guarantee in the meetings held in the Parliamentary Plan and Budget Committee on the entire 2023 budget bill. Oktay said : “I believe that the Governor of the Central Bank will provide the necessary detailed information in this commission.”
He said he attracted the public with 2.3 million
Vice President Fuat Oktay gave an interesting response to the criticism that “money is transferred to a handful of rich people with an exchange rate guarantee”. Stating that the number of participants in the system has reached 2.3 million people, and the total amount has reached 1 trillion 450 billion lira ($78.533 million), Oktay said, “This situation reveals that The exchange rate guarantee is widespread and appeals to all our people”. According to the data, KKM’s share of the deposits is about 50 percent.