Minister Şimşek: "Tax Rate Increases Are Not on Our Agenda"

Global Economy and the Disinflation Process Treasury and Finance Minister Mehmet Şimşek stated that despite global economic uncertainties, growth has maintained a resilient course.
Reminding that the world economy grew by 3.2 percent last year, Şimşek emphasized that developing countries performed faster during this period.
Expectations regarding energy prices are projected to contribute positively to Turkey's disinflation process and economic growth.
Housing Supply and the Fight Against Inflation Stating that monetary policies alone are not sufficient in the fight against inflation, Şimşek drew attention to the importance of supply-side and structural steps.
Specifically addressing the impact of rental costs on the cost of living, the Minister announced that a large-scale supply would be activated in the coming years through housing projects in earthquake zones and social housing initiatives.
Technical Details on Interest Payments Responding to speculations regarding high interest payments in January, Şimşek stated that this situation was entirely due to a technical process.
Explaining that accumulated payments were made due to the maturity of inflation-indexed domestic debt securities issued in 2016, Şimşek said that 53 percent of January's interest payments originated from the maturity of a single security.
Tax Policy and Justice Clearly opposing claims of tax increases, Şimşek emphasized that the current program does not include plans to increase Corporate Tax, Income Tax, or VAT rates.
Stating that they are focusing on reducing tax expenditures and strengthening tax justice, the Minister noted that the share of indirect taxes within the total has begun to decrease, and signals of improvement in income distribution have been received.
International Investor Interest Having met with more than 800 investors in global financial centers such as London, New York, and Hong Kong, Şimşek stated that interest in Turkey has reached its highest level since 2013.
He noted that Turkey's strategic location, NATO membership, and economic narrative have found a strong response in the international arena.