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CHP Amasya MP Reşat Karagöz: 'The Palace spent 1 minimum wage per minute'

Republican People's Party (CHP) Amasya MP Reşat Karagöz shared a post on X titled 'Notes from the Turkish Economy.' In his post, Karagöz compared last year's April inflation rates with this year's figures.

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Republican People's Party (CHP) Amasya MP Reşat Karagöz shared a post on his X account, highlighting the expenditures of the Palace.

In his post, Karagöz compared this year's April inflation rates with those of last year. Karagöz used the following expressions in his post:

"The Palace, which emphasizes austerity for show at every opportunity, spent 2 billion 221 million liras in the first three months of 2024 by spending 1 minimum wage per minute.

Since the Central Bank's net reserves are negative, it buys foreign currency to prevent exchange rates from falling further, which causes inflation to remain high; this situation hinders the fight against inflation.

Although interest rates are hovering around 80% on an annual compound basis, consumer debt to banks has increased by 380 billion liras (13.9%) since the beginning of 2024.  Monthly inflation, which was 2.39% in April last year, rose to 3.18% this April, while annual inflation, which was 43.7%, increased by more than 26 points to 69.8%"