15.05.2026 14:30
Treasury and Finance Minister Mehmet Şimşek announced that there is no new tax increase on the government's agenda. While stating that there will be no surprise hikes in the middle of the year, Şimşek noted that citizens are predominantly turning to gold instead of foreign currency.
Minister of Treasury and Finance Mehmet Şimşek announced that there is no new tax increase on the government's agenda. Stating that administered prices will be set in line with targets within the scope of the fight against inflation, Şimşek said that no surprise price hike will be made in the middle of the year.
EMPHASIS ON INCREASE IN BUDGET REVENUES
Minister of Treasury and Finance Mehmet Şimşek, speaking to Bloomberg, evaluated the budget data for the first four months of the year. Şimşek stated that budget revenues increased by 54.3 percent compared to the same period last year, while the increase in tax revenues reached 55.6 percent. Noting that the realizations in both items correspond to approximately one-third of the year-end targets, Şimşek said that the increase in corporate tax and income tax stood out.
DECLINE IN FUEL SPECIAL CONSUMPTION TAX
Şimşek announced that the Special Consumption Tax (SCT) on fuel decreased by 3 percent in the same period. Stating that the tax loss could exceed 600 billion TL if oil prices remain above $100 per barrel, Şimşek stated that they aim to keep the budget deficit at 3.5 percent despite this.
“NO NEW TAX INCREASE”
Emphasizing that spending discipline will be maintained for the rest of the year, Şimşek stated that the budget targets are still achievable in line with current data. Şimşek said, “There is no new tax increase on the government's agenda.”
“WE WILL NOT SET HIGHER PRICES”
Stating that administered and guided prices will be set in line with targets within the scope of the fight against inflation, Minister Şimşek said that no surprise price adjustment will be made in the middle of the year. Şimşek said, “We can set lower prices, but we will not set higher prices.”
“DEMAND IS HEAVILY TOWARD GOLD”
Making evaluations regarding foreign exchange markets, Şimşek stated that citizens have recently turned to gold predominantly instead of dollars and euros. Şimşek argued that the implemented economic program limits the pressure on the exchange rate.