Budget criticism from YENİ Party MP: Approximately 1 trillion 988 billion TL in interest paid in 8 months

YENİ Party Kayseri MP Aşkın Genç evaluated the Treasury and Finance Ministry's plan to undertake a total of 630.7 billion TL in domestic borrowing during the October-December period using central government budget data.

Genç stated that in the first 8 months of 2026, the budget had a primary surplus of 680 billion TL, yet the budget deficit reached 1 trillion 308 billion TL due to interest expenses. Genç said, "Approximately 1 trillion 988 billion TL in interest was paid in 8 months. In other words, the entire primary surplus of the budget went to interest. It wasn't enough, and a deficit of 1.3 trillion liras remained."

Stating that the Treasury's planned new borrowing for the last three months of the year should not be evaluated in isolation, Genç argued that the real picture is seen in the interest burden on the budget. According to Genç, public revenues and resources obtained through borrowing are directed more toward interest payments than toward investment and employment.

Comparing interest expenditures with investment items, Genç reminded that capital expenditures in the same period were approximately 745 billion TL. Genç stated, "In the same period, about 3 times the 745 billion TL in capital expenditures made for investments was spent on interest payments."

Drawing attention to the central government debt stock, Genç said that the debt stock has increased by approximately 3.5 trillion TL in the last year, approaching the 16 trillion TL level.

We are facing a state that rolls over debt with more debt. The loans taken and the taxes collected do not go to investment or employment; they go to interest. There is no greater problem than paying off debt with debt.

News Source: 12punto