Statement by Minister Nabati on the retirement age (EYT)

The budgets of the Ministry of Treasury and Finance and the Ministry of Foreign Affairs were discussed yesterday at the General Assembly of the Grand National Assembly of Turkey. Presenting his ministry’s budget to the General Assembly, Finance Minister Nureddin Nebati said:

* You can’t do the same things over and over again and expect different results. If you trap our country in a spiral of currency, interest, and inflation, and then try to solve these problems with recipes imposed from outside, you will be trapped in a vicious cycle and will find yourself at square one without doing anything. Progress. In short, here is the point where those who think that history repeats itself and those who shape it differ. We do not hesitate to take the step that will take our country to the next level without repetition, under the leadership of our President. We implemented our model of the Turkish economy, which focuses on investment, employment, production and exports.

“THE INCREASE IN EMPLOYMENT IN 10 MONTHS WAS 1.2 MILLION PEOPLE”

* Our country differs positively from many countries with the employment we provide in the post-pandemic period. The increase in employment in the first 10 months was 1 million 227 thousand people. As of October, employment reached all-time highs at 31.2 million.

“EXCEPT ENERGY AND GOLD”

* Imports reached 360 billion dollars annually as a result of high energy prices. Despite the important contribution of exports and tourism, the current account deficit increased due to imports of energy and gold. As of October, the annual current account deficit was $43.5 billion. However, current transactions, excluding energy and gold, reached a surplus of 49 billion dollars. Despite the strong growth, the continuation of the increase in the current account surplus excluding energy and gold is an achievement that we have achieved thanks to our model of the Turkish economy.

Photography: Zekeriya ALBAYRAK / SÖZCÜ

“INFLATION IS THE MAIN PROBLEM OF ALL COUNTRIES”

* Inflation is the main problem in all countries today without exception. The high course of commodity prices, disruptions in supply chains, and supply restrictions led to high inflation around the world. In this process, we also experienced a significant deterioration in the inflation outlook in our country. We continue our fight against inflation with a human-oriented approach without causing a contraction in production and investment or job losses.

“THE STABLE TRANSACTION IN THE TURKISH LIRA”

* We use income and expenditure policies very effectively to protect the purchasing power of our citizens against inflation. Annual inflation began to decline from its peak in November. The stable course of the Turkish lira, thanks to protected currency deposits and participation accounts and other policies, was instrumental in achieving this result.

“EVERY MONTH WE WILL SEE THE FALL, WE COME THAT ROAD”

* In the next period, both consumer and producer inflation will continue to decrease with the improvement in world prices for raw materials, the evolution of the exchange rate and expectations. Let me say this easily; We will see the fall every month. Because we took that path.

“AMOUNT IN KKM ACCOUNTS 1.5 TRILLION LIRA”

* With KKM, our goal was to reduce exchange rate volatility, increase confidence in the TL, strengthen and maintain financial stability, and protect our citizens’ savings against exchange rate fluctuations, and we did. Currently, our 2.2 million depositors are using their savings of approximately 1.5 trillion lira in these accounts. This size has reached approximately a third of the total deposits in TL and a quarter of the total term deposits. The average maturity of TL deposits, on the other hand, almost doubled, resulting in significant improvements in the maturity mismatch, which is one of the most important risks in the sector. In addition, the share of foreign currency deposit accounts in total deposits decreased from 70.9 percent to 50 percent.

Photography: Zekeriya ALBAYRAK / SÖZCÜ

“91.6 BILLION TL OF BUDGET EXPENSES”

* I would like to stress that when evaluating an app, ignoring its contributions while focusing only on its cost is definitely not an objective evaluation. Also, the cost of the KKM, which you’ve been talking about all year, is slowly coming down. In the January-October period, TL 91.6 billion was spent on the KKM from the budget, while no transfer from the budget has been made so far in November and December due to the stability in the exchange rate. In the coming period, we will make our country one of the centers of industry, trade and finance, as befits the Century of Turkey.

“WE ARE LIVING THE HARDEST 3 YEARS”

* Dear friends, you are not aware of something. After the crisis of 1929, we are experiencing the 3 hardest years of the last 100 years in the world. In a period in which the most difficult 3 years were lived, the government of the Republic of Turkey realized what I have told and will tell, in these difficult conditions. Let’s be aware of this. We do so many things that we take it for granted, we overcome so many difficulties that we start to see it as easy. For this, you have to be brave for once, not be determined, you have to understand, you have to empathize, you have to put yourself in their shoes, and you have to show the determination to never back down. You take.

“MASAK DID RESEARCH ON MORE THAN 20 THOUSAND PEOPLE”

* Our Financial Crimes Investigation Board (MASAK) continues its efforts to prevent crime money laundering and terrorist financing. This year, more than 20 thousand people were investigated in the field of prevention of money laundering. In addition, the assets of 66 individuals and 14 organizations were frozen in the context of terrorist financing.

“THE TREASURE TAKES 150 LIRA FROM THE 300 LIRA BILL”

* The projected resource for our 2023 budget natural gas and electricity subsidies is TL 530 billion… We provide 50 percent electricity and 75 percent natural gas subsidies for residential subscribers. In other words, our citizens pay 150 lira for an electricity bill that costs 300 lira, and only 125 lira for a natural gas bill of 500 lira. Treasury assumes the remaining cost.

“GROSS RESERVE OF THE CENTRAL BANK 125 BILLION DOLLARS”

* We have achieved this even in this period when we inevitably experience a deterioration in the current account balance due to energy prices. Furthermore, by doing this, we have protected and increased our reserves. The total gross reserve of the Central Bank has gone from 111 billion dollars at the end of the year to 125 billion dollars today.

EXPLANATION OF PEOPLE ON PENSION

* We carry out the work at EYT meticulously, taking into account the opinions of all interested parties. The details of the work will be announced to the public by our President when the time comes.

“I AM NOT SOMEONE WHO REPRESENTS THE SERIOUS AND SERIOUS UNDERSTANDING OF THE CEBERUT STATE OF THE ORGANIZATION”

Nureddin Nebati said: “I am not someone who represents the serious and sullen understanding of the tyrannical state of the established order. As the representative of an understanding that comes to be servant, I do not love, I am smiling and I will continue to smile,” he said.

CHP group vice president Engin Özkoç objected: “Then don’t make fun of the EYT members.” Nabati replied, “I am not making fun of my children, let them go now.”

Nebati said: “It is not the CHP that represents the workforce in this country. If there is someone who represents the workers, it is the AK Party. The AK Party has served the workers for 20 years, met all their needs and did not oppress them in the face of inflation.

Regarding inflation, Minister Nebati said: “Inflation has increased with global effects and we have left its peak in November, there will be a rapid decline in the next period.”