Şimşek gave the first sign of a retreat regarding the bill that proposes a deduction of 750 TL from the cards.

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The AK Party had submitted a draft omnibus law to the Parliament last Friday, which is expected to reach a total annual volume of 80 billion lira in service fees and taxes for defense industry projects.

750 TL DEDUCTION PER CARD

With the omnibus law proposal expected to be discussed tomorrow in the TBMM Planning and Budget Commission, a deduction of 750 TL will be made for each credit card holder whose limit exceeds 100,000 lira.

AK PARTY MAY REEVALUATE THE REGULATION

While the omnibus law proposal has sparked discussions in the public, it has been learned that the AK Party will reevaluate the regulation by taking the reactions into account, and the Minister of Treasury and Finance, Mehmet Şimşek, has also given the first signal regarding the issue.

"DEFENSE PROJECTS NEED FUNDING"

In a live broadcast, Minister Şimşek made evaluations about the Defense Industry Support Fund, stating, "The purpose is very clear and straightforward. There is no other option but to increase our country's deterrent power. There is fire in our region. We live in a difficult geography. Funding is needed for defense projects. We are seriously investing in the Defense Industry Fund. We have increased it to 165 billion this year. Proposals have been received from many places. We have worked with the Economic Staff. Our party group may reevaluate some issues."

STRIKING STATEMENTS FROM MINISTER ŞİMŞEK

Key points from Minister Şimşek's statements during the NTV live broadcast are as follows: "I visited Qatar and Kuwait. I am the Co-Chairman of the Joint Economic Commission of both countries. A summit will be held with Qatar in the near future. The Gulf presents serious opportunities for us, especially in tourism. We are a country that has succeeded in sectoral diversity. Procurement from neighboring countries is now an important concept. Our economic model is now based on the principle of complementarity. I believe that as investors' concerns decrease, there is a great potential. We met with nearly 250 leading company executives."

INVESTOR MEETINGS ABROAD

Next week, we will meet with important banks in the USA. Investment banks are holding meetings on the margins of the IMF meetings. The G20 we will attend will be a long meeting. We will have a meeting with the US Treasury Secretary. We will meet with multilateral international banks.

WILL THE CURRENT ACCOUNT DEFICIT CONTINUE TO DECREASE?

The current account deficit is Turkey's Achilles' heel. The current account deficit was very high last May. The current account deficit has almost fallen below 1%. If there were no regional conflicts, the current account would be balanced. Our projections regarding the current account deficit are undergoing structural transformation. We have taken very important steps. We have identified 284 products. We want to attract investments from the world and Turkey to these products with credit. Under 8 main headings, 30 products will receive support of 30 billion dollars by 2030. Currently, the priority is green transformation. Support will be provided for the production of high-tech products. These will permanently reduce the current account deficit. We are at a significant threshold regarding the current account deficit. With the implementation of these projects, we will be discussing a current account surplus."

"INFLATION WILL CONTINUE TO FALL"

Annual inflation for basic goods has dropped to 28%. Inflation will continue to fall. Service inflation has started to decrease, but there is rigidity in the world. When the 25% upper limit on rent increases was lifted, there was an increase of nearly 120% in renewed rental contracts. Service inflation will respond strongly to income policies over time. As inflation begins to decrease, we will break the rigidity in the upcoming period.

There are limiting factors in fiscal policy, such as the earthquake and EYT, yet a decrease in inflation has begun. A decrease in inflation means a slowdown in price increases. We will implement this program. This program is yielding results. There is an improvement in inflation expectations. There has been an effect from renewed rental contracts. Past inflation is taken as a basis. These will exit the equation and the base after a year. The impact of rent increases on inflation will normalize after a year. The increase in housing supply will affect rent inflation. Green transformation is the most important priority. There is incredible interest in green transformation in the Gulf. The appetite is very large. Recently, under the leadership of our President, an investment advisory meeting was held, and those who attended showed tremendous interest in green transformation.

"THE BUDGET DEFICIT WILL DECREASE"

Time is needed; we will implement the policy with patience. There was a tremendous earthquake in this country last year. Last year, the budget deficit was 5.2%. Two-thirds of the deficit is due to earthquake-related expenditures. We prioritized healing the wounds of the earthquake. The impact of the EYT on national income is 2%. Let's not look back; let's look ahead. We are implementing a contractionary fiscal policy.

"VEHICLE SALES IN THE PUBLIC SECTOR WILL BEGIN"

We have reduced rental vehicles by 15%. The Privatization Administration will soon start selling vehicles. Deviations in public spending will be below 1%. There was never such a thing before. No ministry will exceed the expenses allocated to it. About a thousand vehicles had been transferred for privatization. We do not allow any rentals except for essential vehicle rentals.

"THERE IS A SIGNIFICANT INFLUX OF RESOURCES"

Our economic program is yielding results. Net reserve increase has exceeded 100 billion dollars. We have eliminated the issue of reserve adequacy in Turkey. We are in a difficult geography; we must increase our deterrent power. We must provide additional resources for defense industry projects. Funding is needed for the construction of the steel dome and the 5th generation aircraft. We are seriously investing in the Defense Industry Fund. We have increased it to 165 billion this year. Proposals have been received from many places. We have worked with the Economic Staff. Our party group may reevaluate some issues.

"THIS FUND IS OUTSIDE THE BUDGET"

This package was prepared entirely for funding defense. This package will go entirely to the Defense Industry Fund. It is not a package made to reduce the budget deficit. Not a single penny of the package will enter the budget. Defense industry is very important for us. There is no intervention from the Treasury in this fund. We cannot close our ears to criticisms. The evaluations received will be taken into account by the Parliament. I also do not fundamentally find off-budget funds correct. But some funds are necessary.

"THERE IS A SLOWDOWN IN THE ECONOMY"

The rate of slowdown is not as great as claimed. If necessary, we will take additional measures aimed at employment. Our top priority is to achieve high growth sustainably. The prerequisite for this is price stability. We will never relax without reducing inflation."