Published in the Official Gazette: A new era for credit cards and cash withdrawals!
The "2024 Presidential Annual Program," approved by AKP Chairman and President Recep Tayyip Erdoğan, has been published in the Official Gazette. According to the program, additional measures will be taken regarding the number of installments for credit card purchases and cash withdrawals.
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The Presidential Decree, published in the duplicate issue of the Official Gazette, stated: "It has been decided to approve the attached '2024 Presidential Annual Program' prepared by the Ministry of Treasury and Finance and the Presidency of Strategy and Budget."
The program includes new measures under the heading of inflation and monetary policy.
CREDIT CARD DECISION
According to the program, practices that will prevent consumption increases that drive inflation will be implemented.
According to NTV's report, for this purpose, additional measures will first be taken regarding the number of installments for credit card purchases and cash withdrawals.
Housing supply will be rapidly increased, taking into account rent and housing price developments.
New social housing projects will be developed to compensate for the impact of the earthquake on the housing stock.
A digital registration system will be established for residential and commercial rents, as well as second-hand vehicle sales.
Priority will be given to domestic production and environmentally friendly vehicles in public vehicle procurement.
Incentives will be developed to enable university students under the age of 25 to participate in the Private Pension System.
YEAR-END INFLATION FORECAST
The Ministry of Treasury and Finance and the Presidency of Strategy and Budget prepared the program covering the coming year, in which basic economic indicators and targets were determined.
Accordingly, while the growth estimate for this year is 4.4 percent, the economy is projected to grow by 4 percent in 2024.
While inflation is estimated to be 65 percent by the end of this year, the target for the end of next year is 33 percent.
The ratio of the current account deficit to the gross domestic product is estimated to be 3.1 percent in 2024.
According to the program, while the unemployment rate is expected to be 10.1 percent at the end of this year, the target for the end of next year was recorded as 10.3 percent.
It is projected that exports will reach 255 billion dollars by the end of 2023 and rise to 267 billion dollars next year.
Imports are estimated to be 367 billion dollars by the end of the year and are expected to reach 372.8 billion dollars in 2024, with the foreign trade deficit projected to be 112 billion dollars for next year.