Nebati gave information on 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 lira in 2021 and only 13.2 lira in 2022.
Emphasizing that 43.2 liras of every 100 lira budget expenditure in 2002 went to 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 interest, but with investment and production.” used the phrase.
Nebati also noted the following in the infographic he shared:
“While making an assessment of interest expenditures, it is more accurate and comparable to consider 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. From this point of view, it is more accurate and comparable to the interest expenditures.