The state will borrow 221 billion lira

of power The cost of the project to make average housing for owners with 0.69 percent interest came to light, which is the good news of the new election. According to the bill submitted to Parliament by AKP deputies, credit support of up to 221.167 million lira will be provided from this year’s budget to cover part of the interest burden for those using home loans. However, since this resource is not in the budget, the Treasury will borrow from the market all the necessary money. In case the demand is higher than expected, the amount of debt to be collected by the Treasury from the market will be increased up to 442 billion lira by decision of the president. The Public Finance and Debt Management Law, which limits indebtedness, is also amended so that the Treasury can deal with this enormous indebtedness. The Treasury will borrow up to 5 percent of the budget revenue of 4 trillion 423 billion lira determined for 2022, that is, 221 billion lira. If the president uses his authority to increase this rate to 10 percent, the debt the Treasury will receive will exceed 442 billion lira. This home loan will not appear in the government net debt stock data.

THE TREASURE WILL BE ASSEMBLED

The debt to be received by the Treasury, a part of the interest charge of the houses to be bought and a part of the installments to be paid in the first 3 years will be spent by the Treasury. According to the proposal, the total household income will be taken into account to calculate the support that will be provided to pay the installments of the home to be purchased in the first 3 years. The part of the amount of the quota to be paid in the first 3 years that exceeds 30 percent of the income that enters the household will be covered by the Public Treasury.

Fee of 10 thousand TL for those with income of 30 thousand

According to the 30 percent rule, if the monthly installment of the housing loan is, for example, 25,000 lira and the total household income (the monthly income of all family members, including the spouse and children) is 30,000 lire, the monthly payment to be paid by the citizen who buys the house will not exceed 10,000 lire. While the citizen pays 10 thousand liras of the 25 thousand lira loan, the remaining 15 thousand liras will be covered by the Treasury. As income increases in 3 years, the fee to be paid by the citizen will also increase taking into account 30 percent. The President will be authorized to increase the rate from 30 percent to 50 percent and reduce the period from 3 years to 1 year. After 3 years, the support from the Treasury will end and the citizen will pay the entire loan installment himself. After a certain year, he will start repaying the support provided by the Treasury.