Turkish Grand National Assembly Approves 2026 Budgets for Interior and Finance Ministries

The Turkish Grand National Assembly approved the budgets for the Ministry of Interior and the Ministry of Treasury and Finance for 2026. Minister of Treasury and Finance Mehmet Şimşek denied claims regarding the erasure of tax debts, asserting that no authority outside the Assembly has such power. Şimşek highlighted that the quality of reserves has improved, attributing the increase to factors including reverse dollarization and reduced current account deficits, while clarifying that 'carry trade' plays a minor role.

He reported a decrease in public sector vehicles, excluding defense and health, and stated that savings measures have been effectively implemented. In response to the impact of recent earthquakes, he announced a 24-month interest-free restructuring of tax debts for affected taxpayers, with no collateral required for debts up to 250,000 lira. The budgets for various agencies were also approved, with the Assembly scheduled to reconvene the next day.