The budget deficit bill will be cut to the citizenry

Needle-to-thread increases expected after the election

Economic The cost of living with the crisis is impoverishing people day by day. Citizens struggling to make ends meet due to high inflation may face additional taxes to cover the budget deficit after the election. Speaking to SÖZCÜ, tax expert Dr. Recalling that the year 2023 started with a budget deficit target of 659.4 billion lire in the Central Government Budget, Ozan Bingöl said that more than 30 percent of this target was achieved in the first two months of the year.

ELECTION ECONOMY

Bingöl said: “The budget deficit in the period January-February 2023 was TL 202.8 billion. However, this budget deficit does not include EYT, hiring subcontracted workers, pension increases, and electoral economics spending. And yet, unfortunately, we are living through one of the biggest disasters in recent years, the earthquake of February 6. “Assuming the cost of the earthquake is about $100 billion, the signs of why we will wake up with a huge additional budget after the election are gradually emerging,” he said.

Stating that approximately 82 percent of the budget consists of tax revenue, Bingöl emphasized that the more deficit the budget gives, the more tax collection is needed to close this deficit. bingol said:

ADDITIONAL TAX CHAIN

“For this reason; it will not be a prophecy to say that we will wake up to new taxes, additional tax increases, one-time tax requests, healthcare participation increases, and increases in the days after the morning of May 15. In fact , an additional tax for Corporate Taxpayers was introduced on March 9. More precisely, additional earthquake tax. Companies that benefit from some discounts and exemptions will pay an additional tax of 10 percent of the total of these amounts. Thus, we We find ourselves with the first of the taxes that will be implemented after the elections. Of course, let’s not forget that this additional tax is the first link in the chain and will not be the last.” By stating that the 2023 budget means that citizens must pay trillions of lira in taxes, Bingöl pointed out that this is a large amount of money transferred to someone.

Tax Specialist Dr. Ozan Bingöl The economy cannot be managed It means that the economy cannot be managed well in an environment where policy documents, budgets, and managers cannot read the economy and cannot make sound predictions even one year ahead. However, the bill for the mismanaged economy is coming to honest citizens in the form of inflation and new taxes.

The budget and programs lost their orientation

By emphasizing that the budget and the medium-term programs should be a guide for public institutions and the private sector, Ozan Bingöl affirmed that the Medium-Term Programs became worthless paper in the year of their publication, due to the implemented economic policies. and economic forecasts far from economic reality. Bingöl said: “In 2022, an additional budget had to be made almost equivalent to a new budget. This year will be no different. So it shows an administration that lacks the ability to plan for even next year. The president of the country is making a statement that says ‘Everyone should set their inflation target according to 20 percent next year’, but the CPI increase in the first two months of the year is 10 percent. In the Central Bank expectations survey, annual inflation is 37.72 percent.

There should be no poverty and hunger.

Stating that citizens pay 7 million 86 thousand TL in taxes per minute according to the 2023 budget, Ozan Bingöl said: “We will see together how these figures increase with the additional budget that will be inevitable in the middle of the year. In a geography where such taxes are collected under normal conditions, there should be no hunger and no poverty. If one of these happens, it means there’s a serious ‘share and distribute’ issue there.”

Low-income people will be affected

Ozan Bingöl, who said that taxes, which are unavoidable after the elections, will cause an increase in costs, said: “It also brings an increase in prices. But who are the most affected by this inflation, of course, the fixed wage earners, low-income people, workers and day laborers… Inflation is an unrepresentative and unfair tax that impoverishes a large part of the population, especially those who receive salaried income, and distorts the distribution of income. “Inflation is the thief that steals money from our pocket day by day, minute by minute.”

Currency protected deposit is like a time bomb

Explaining that the government has mobilized all its possibilities to avoid an increase in foreign currency until the elections, Ozan Bingöl recalled that the last 5,000 million dollars came from Saudi Arabia. Bingöl said: “We are faced with a situation where the country will incur much higher costs due to protected currency deposits and the budget deficit will reach incredible proportions. The increase of hundreds of billions of lire in the KKM is a time bomb placed in the state budget and it is growing rapidly by the day.
works as It has the potential to place an unpredictable and unbearable burden on the budget.”