The figures are out: SGK's deficit continues to grow!

According to a report in Cumhuriyet; the 2024 Presidential Annual Program also included the income-expenditure balance of the SGK. In 2022, revenues were 971.7 billion TL, while expenditures rose to 1.1 trillion TL. The deficit increased to 41.7 billion TL. This year, revenues are expected to be 2.1 trillion TL, expenditures 2.2 trillion TL, and the deficit 113.2 billion TL. 

Transfers made to the SGK from the budget are increasing every year. In 2021, 254.1 billion TL was transferred to the institution from the budget. Last year, that figure rose to 389.9 billion TL. This year, a budget transfer of 909.1 billion TL is expected. Next year, a full 1.5 trillion TL will be transferred from the budget to the SGK.

The assets of the Unemployment Insurance Fund are increasing exponentially. The total fund assets were 124.3 billion TL in 2022. The unemployment fund, which is expected to reach 174.7 billion TL this year, will be 319.6 billion TL next year. 

In contrast, payments made from the fund for unemployment benefits, short-term work allowances, and the wage guarantee fund remain far behind the total size of the fund. These expenditures were 17.9 billion TL in 2021, partly due to the pandemic. Last year, they fell to 9.5 billion TL. This year, they are expected to be 17.4 billion TL. Next year, out of a fund reaching 319.6 billion TL, only 31.1 billion TL will be provided to workers under the scope of unemployment benefits, short-term work allowances, and the wage guarantee fund.

News Source: 12punto