Defeated by inflation, the Central Bank distributed performance commissions

The Central Bank, which could not fulfill its duty to fight inflation and save the people from the cost of living, distributed money up to 4 salaries under the name of ‘performance compensation’ to its employees as if breaking the back of the inflation monster .

According to the information obtained by SÖZCÜ, the performance pay deposited in the accounts the day before was applied as 2 salaries to lower level staff and 4 salaries to senior staff. In the process of moving from Ankara to Istanbul, those who could not reach an agreement with the bank’s management and sued the bank and the subcontractor’s staff were deprived of performance compensation. The compensation payment was sent to the staff by email. In the mail, it was reported that the payment was performance compensation.

ADDITIONAL INCOME OF 100 THOUSAND LIRA…

Employees of the Central Bank, which has the power to print money, are paid considerably more than other public institutions. It is claimed that a specialist at the Central Bank receives a salary of 45-50 thousand lira, while the salary of managers exceeds 80 thousand lira. Consequently, a specialist who received 2 performance compensation salaries, received an additional income of 100 thousand lira, on top of his normal salary of 50 thousand lira this month. An additional performance payment of 320 thousand lira was made because 4 salaries were provided to a manager whose monthly salary was 80 thousand lira at the bank.

Whether or not Central Banks can perform successfully is generally assessed according to the results they have achieved in fighting inflation. Since high inflation causes insecurity in the economy and constantly confronts the public with price increases, central banks see it as a priority area to fight. Central banks use interest as the most effective weapon to combat the inflationary monster. To avoid electoral reversals and similar populist practices by governments that will lead to inflation in the future, modern central banks are trying to control price increases without even taking into account the reaction of governments.

The high profits obtained by the Central Banks, for their part, are not evaluated as a positive performance, but are interpreted as a sign of mismanagement of the economy.

It is worth asking what performance the Central Bank has shown to deserve compensation, which has been criticized for not correctly using the weapons of the fight against inflation and for being a spectator of the increase in inflation.