Minister Şimşek: No Increase in Basic Tax Rates on the Agenda

Justice and Simplification in Tax Policies Treasury and Finance Minister Mehmet Şimşek clarified the government's tax policies during his evaluations of the economic agenda.
Şimşek stated categorically that any increase in Corporate Tax, Income Tax, or VAT rates is not on their agenda, emphasizing that they have significantly reduced tax expenditures.
Stressing the importance of tax justice, the Minister noted that the share of indirect taxes within total tax revenues has shown a decrease for the first time in a long period.
Global Outlook and Investor Interest Noting that the Turkish economy has displayed a resilient structure despite global uncertainties, Şimşek recalled the 3.2% growth achieved last year.
Regarding international contacts, the Minister stated that they met with more than 800 investors in London, New York, and Hong Kong.
Şimşek expressed that investor interest in Turkey has reached its highest level since 2013, adding that Turkey's NATO membership and strategic role in European security are decisive factors in this interest.
Fight Against Inflation and the KKM Process Emphasizing that bringing inflation under control is the primary priority, Şimşek said the disinflation process began in the second half of 2024.
The Minister stated that inflation is projected to be 44% by the end of 2024 and 30% by the end of 2025, noting that inflation could fall below historical averages between March and May.
Furthermore, he shared that the stock of FX-protected deposits (KKM), which once reached $143 billion, has been largely liquidated.
Current Account Deficit and Structural Transformation Touching upon the improvement in external balances, Minister Şimşek stated that a permanent recovery process in the current account deficit has begun.
Expressing that they are focusing on the goal of a current account surplus alongside structural transformation steps, Şimşek predicted that potential drops in energy prices would reflect positively on the disinflation process and economic growth.