Minister ŞImşek Makes Statement on Inflation! He Emphasized the Sliding Scale Inflation System.
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As the world is shaken by the biggest 'supply shock' since the 1970s, beginning with the Strait of Hormuz knot, Treasury and Finance Minister Mehmet Şimşek announced a series of 'shield' measures for the economic administration. Announcing that they are protecting citizens by covering 75% of fuel price increases from the budget through the sliding scale system, Minister Şimşek also shared details of historic tax reforms that will transform Turke…
Treasury and Finance Minister Mehmet Şimşek stated that inflation would have reached much higher levels if the sliding scale inflation system had not been implemented, saying, "The cost to us in the first two months was 90 billion lira. That's a serious figure, 2 billion dollars. If a similar situation continues throughout the year, the impact will be around 600 billion lira. At today's prices, we are talking about a figure of 13-14 billion doll…
Treasury and Finance Minister Mehmet Şimşek announced that fuel price increases have been limited through the sliding scale system, resulting in a saving of 90 billion TL from the budget.
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