Minister Şimşek: We are determined, we will permanently lower inflation

Treasury and Finance Minister Mehmet Şimşek made statements during the budget negotiations in Parliament. Şimşek stated that they are determined to lower inflation.

Regarding inflation, Şimşek said, "The main goal of the Medium-Term Program is to ensure a permanent decline in inflation. We are determined; we will permanently lower inflation." Şimşek noted that they aim to reduce inflation to single-digit levels by 2026.

Stating that they will strengthen capital markets as inflation falls, Minister Şimşek said, "We are accelerating the green and digital transformation. In the coming period, we will continue our savings expenditures despite everything. Our borrowing costs have declined, and the 'Medium-Term Program' is working. We have not allowed our employees and retirees to be crushed by inflation."

We will increase the share of direct taxes

While noting that Turkey's risk premium has fallen by more than 400 basis points since May, Şimşek stated that international investor interest in TL assets has increased. Expressing that investor interest will increase even further, Şimşek said, "There is more capital inflow into the market than we desired."

Stating that they will establish an effective, simple, and fairer tax system, Şimşek said, "We will increase the share of direct taxes and strive to remove ineffective exemptions and deductions. The problem is not the high level of indirect taxes, but that direct tax revenues are not at a sufficient level."

News Source: 12punto