Şimşek “We will work to restore fiscal discipline”

Mehmet Şimşek

The Minister of Treasury and Finance, Mehmet Şimşek stated, “In the upcoming period, we will not allow permanent deterioration in public finance indicators by bringing the budget deficit under control and reestablishing fiscal discipline.”

The Minister of Treasury and Finance, Mehmet Şimşek in a written statement on social media, stated, “In 2023, we have made significant improvements that affect 15.9 million retirees and 4.9 million public employees. We have increased their monthly pensions and salaries well above the inflation rate, elevating their welfare levels. Compared to the end of 2022, we have increased the minimum civil servant salary by 141.8 percent and the minimum retiree pension by 114.3 percent.”

“In the upcoming period, we will not allow permanent deterioration in public finance indicators by bringing the budget deficit under control and reestablishing fiscal discipline. We are taking the necessary measures for this. We will support the Central Bank’s fight against inflation by strengthening the coordination between monetary policy and fiscal policy. We will also take steps to reduce the current account deficit and lower the country’s risk premium.”

Şimşek continued, “We are addressing the wounds of the citizens affected by the earthquake disaster. This year, we expect earthquake-related expenditures to reach 761.7 billion TL (3.1 percent of national income). Within this framework, construction has started for 179,000 houses in the earthquake zone. We plan to deliver approximately 319,000 houses to earthquake victims within about a year. The National Solidarity Package, currently under discussion in the Parliament, aims to reduce the additional costs incurred by the earthquake on the budget to some extent. These regulations will also indirectly support the control of the current account deficit.”

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