Nebati gave information about interest expenditures in his post on his Twitter account.
Stating that there is a structural transformation in the economy, Nebati said, “Most of our national income, which we have increased with sweat, is now spent on investments, not on interest. In 2002, the ratio of interest expenditures to national income was 14.3 percent. This rate decreased to 2.5 percent in 2021. In 2022, we expect it to decrease to 2.3 percent.” made its assessment.
Nebati shared the information that 85.7 lira of every 100 lira tax revenue collected in 2002 was used for interest expenditures, 15.5 liras in 2021 and 13.2 liras in 2022 only for interest payments.
Emphasizing that 43.2 liras of every 100 lira budget expenditure in 2002 was spent on interest payments, Nebati said, “In 2021, 11.3 liras, and in 2022 only 10.6 liras were used for interest payments. Turkey grows not with debt and interest, but with production through investment.” he used his word.
Nebati also noted the following in the infographic he shared:
“While making an appraisal of interest expenditures, considering the interest expenditures together with the macro aggregates in the economy (budget, GDP) rather than the increase or decrease in the nominal size of the interest expenditures gives more real and comparable results.
