CHP's Karabat reveals the bill for KKM along with March 19! 'The economic destruction created by the AKP...'

The Foreign Currency Protected Deposit (KKM) system, which was implemented in the final days of 2021 to lower the heat of the dollar, has been completely exited.

CHP Istanbul Deputy Özgür Karabat shared striking figures regarding the losses the Turkish economy has suffered in recent years. Karabat emphasized that the total cost of the Foreign Currency Protected Deposit (KKM), interest payments, and reserve losses experienced after March 19 has exceeded 200 billion dollars.

Karabat's assessments made via social media are as follows:

THE KKM BALANCE SHEET IS HEAVY

"The Foreign Currency Protected Deposit (KKM) has been terminated. The cost of KKM is 60 billion dollars. In the end, the dollar, which was 18 TL, retreated slightly and has now exceeded 41 TL. Inflation and foreign exchange problems have not ended."

INTEREST BURDEN INCREASED DURING THE ŞİMŞEK PERIOD

"In the Mehmet Şimşek period alone, public interest payments reached 87.5 billion dollars. Şimşek took office and increased the VAT from 18 percent to 20 percent. He introduced additional taxes in many areas. A budget deficit exceeding 1 trillion TL in the first 7 months, high inflation, deep poverty, lack of confidence..."

POLICIES THAT PROTECT THE WEALTHY

"One must consider the KKM that started at the end of 2021 and the Şimşek period together. As a result of these policies, which appear inconsistent on the surface but are actually carried out for the purpose of wealth transfer, 147.5 billion dollars have come out of the pockets of the poor and entered the pockets of the wealthy."

MAJOR MELTDOWN IN RESERVES

"In the process that began with the arrest of Ekrem İmamoğlu on March 19, there was a reserve loss of more than 60 billion dollars. The cost of a group that has long since lost public support insisting on not wanting to leave power exceeds 200 billion dollars in just these three areas in 3.5 years."

DESTRUCTION MEASURED IN TRILLIONS

"When we add to this account the thousands of businesses that have closed, the hundreds of thousands of young people who have gone abroad, corruption, the collapsing public morality, and the increasing mafia-like structures, we will have to calculate the destruction created by the AKP in trillions of dollars."

TAX BURDEN IS NOT LIGHTENING

"Mehmet Şimşek, who constantly says 'The program is working,' is actually announcing that the wealth transfer is continuing uninterrupted. If everything is normalizing, then why is the VAT still at the 20 percent level? Lower the VAT, the SCT rates, and reduce the burden on the citizen's shoulders. But they won't!"

WARNING OF RISK IN THE ECONOMY

"The budget deficit, interest payments exceeding the principal, and the private sector's external debts exceeding 190 billion dollars pose major risks for the economy. It doesn't matter if it's Mehmet Şimşek or anyone else at the helm of the economy... As long as the AKP remains in power, these crises will continue!"

News Source: 12punto