Reaction from economists to Elva’s budget deficit statements

Treasury and Finance Minister Lutfi Elvan, made an assessment of the 2020 budget deficit on Twitter. The budget deficit in 2020 is 172.7 billion pounds, the target is under 239.2 billion pounds, said Elvan, 66.5 billion pounds were saved, he said.

Elvan said he would “never compromise” on financial discipline outside areas that would require fighting the epidemic, adding that “public finance policies will continue in line with inflation.”

Stating that “permanent measures have been taken” to improve the 2021 budget, Elvan said that in this context, the 2021 budget deficit is targeted at 3.5 percent.

Ugur Gurses: What kind of distortion is this?

Some economists reacted to Elva’s remarks on Twitter. Economist Ugur Gürses, “This budget deficit, which is said to be the target, is an estimate of the NEP announced in late September. The target was 138 billion TL set by the budget law in early 2020. What is this distortion?” He said. Budget deficit when 10 million are unemployed and unemployed. We are not in a position to be proud of being below his assessment … ”he shared.

Economist and journalist Cuneyt Akman also tweeted, “Our finance minister surprised the budget target of 100 billion. It would be such a miscalculation …”

Akman said, “The budget deficit in 2018 was 72.8 billion. In 2019, the open deficit was 123.7 billion, which is highly valued (?!), 172.7 billion. TUIK inflation of 15 percent, PPI In the year he set 25, the budget deficit increased by 40 percent. This is a year of a pandemic; if real assistance is provided to the people, it can be justified.

Akman said, “The AKP has quadrupled its budget deficit in three years. Is there a pandemic in the years of the real explosion? No. People are very supportive and therefore we do not know that everyone is prosperous? No. Then we have the right to ask for a budget deficit four times in three years. The economic leadership, which quadrupled the budget deficit, also ridiculed its citizens as if they had not sold how successful we were in the budget!

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