Turkish finance minister urges austerity as country faces economic difficulties

Highlighting Türkiye's "difficult economic process", Şimşek revealed a projected budget deficit of 2.7 trillion liras for 2024.

He warned that financing this deficit with debt would divert vital resources from investment and public services to high interest payments.

Şimşek urged governors to prioritise austerity measures in their jurisdictions.

In particular, he highlighted the need to reduce the use of vehicles and advertising expenditure within the public administration.

The minister set a personal example by stating that he himself uses notebooks to minimise paper consumption.

Şimşek emphasized that public funds are not personal, but belong to the "nation's money".

He appealed to governors to show "maximum sensitivity" to austerity measures and to act as partners in promoting "a modest public understanding" of the need for savings.

This call for frugality reflects the Turkish government's efforts to control public spending and ensure fiscal sustainability in the face of economic headwinds.

Şimşek's direct appeal to governors underlines the importance of implementing austerity measures at the local level for a nationwide impact. (ILKHA)