Banknote expenses increased by 446 percent in the last 5 years

Banknote paper and ink expenses, which stand out in the annual reports of the Central Bank of the Republic of Turkey, have shown a significant increase in recent years.

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Banknote expenses increased by 446 percent in the last 5 years

Tax expert Ozan Bingöl shared the change in the "Banknote paper and ink expenses" item in the Annual Reports of the Central Bank of the Republic of Turkey (TCMB) over the last 5 years. This change observed in emission has revealed the increase in money printing.

In the Central Bank's banknote counts, there was an increase of 119.36 percent in the total of all banknotes from the beginning of 2021 to August 2024.

A 753 PERCENT INCREASE WAS OBSERVED

In particular, the change in the number of 200 TL banknotes showed an increase of 753 percent in the same period. It was observed that the 100 TL banknote experienced a horizontal fluctuation in terms of quantity after 2021, while a limited increase was observed in the 10 TL and 5 TL banknotes.

According to Bingöl's examinations, an increase parallel to the rise of the 200 TL banknote was also recorded in banknote paper and ink expenses. Expenses, which were 264 million 724 thousand 230 TL in 2021, increased by 92 percent in 2022 to 508 million 255 thousand 436 TL. In 2023, these expenses reached 1 billion 14 million 621 thousand 829 TL with an increase of 99.62 percent.

Printing expenses from 2019 to 2023 increased from 185 million TL to 1 billion TL, showing an increase of 445.96 percent.

News Source: 12punto