They will ride on the back of the citizen

After the elections, the AKP government abandoned the New Economic Model, which it had been implementing for about two years, and turned to rational policies.

On the other hand, the Medium Term Program (PMP), announced yesterday, raised inflation expectations and reduced growth. The increase in tax revenue drew attention in the PPM announced by Vice President Cevdet Yılmaz. With the VAT, SCT and additional MTV being increased to close the budget deficit, the burden on the low income increased. The government has indicated that taxes will increase each year with the 2024-2026 schedule.

In the programme, which is estimated to reach TL 4.270 billion in tax revenue by the end of 2023, this figure has been increased by approximately TL 3 trillion by 2024. In other words, the AKP government intends to collect taxes from the citizens worth 7 trillion 402 billion lire in 2024.

The burden of inflation, which reduces the table of citizens, will also increase in the next period. Under the new PMP, the government raised its inflation forecast for 2023 and 2024, which it set at 65 percent and 33 percent, respectively, last year.

According to the OVP, the budget deficit will also multiply. The budget deficit, which is expected to be TL 1.6 trillion this year, is expected to be TL 2.65 trillion by 2024.

In the PMP, which is expected to be 55.6 billion dollars in 2023 and 59.6 billion dollars in 2024, the export forecast was 255 billion dollars for 2023, 267 billion dollars for 2024 , while the import forecast was 367 billion dollars for 2023 and 372.8 billion dollars. dollars by 2024. The current account deficit is expected to be $42.5 billion this year and $34.7 billion in 2024.

7.4 trillion lire will come from taxes in 2024

The AKP government, which is trying to close the budget deficit with taxes collected from citizens, announced that it will continue to do so for the next three years with the new OVP announced to the public yesterday.

The tax revenue target, which this year was 4.2 trillion Turkish liras, has been increased by more than 3 trillion Turkish liras in 2024. The government allocated a budget of 1.60 billion Turkish liras in 2024 for earthquake expenses, which was used as a reason for the tax increase.

The economic administration, which aims to collect 7.407 billion Turkish lira in taxes from citizens next year, wrote in the program that this figure will increase by 2 trillion in 2025 and 2026.

Consequently, the government will collect TL 9.5 trillion in 2025 and TL 11.3 trillion in 2026.