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Video Commentary:  Turkey’s 2020 Budget: Death by taxes

The 2020 budget is text-book example of “tax and spend” budget which will make Turkish citizens cringe

Video Commentary:  Turkey’s 2020 Budget: Death by taxes

 

Turkey’s economy czar  Berat Albayrak presented 2020 draft budget to the Grand Assembly. It is a text-book example of “tax and spend” budget which will make Turkish citizens cringe because it introduces new taxes everywhere, as well as stepping up consumption taxes. It seems promises of austerity have gone by the wayside. Strangely enough, Neither Mr. Albayrak, nor his paymaster President Erdogan seem to realize that imposing such a heavy tax burden on the society already suffering from a double digit unemployment level is a sure fire recipe for  a slump in domestic demand. As Real Turkey Channel claimed in a previous video, the budget makes reaching the 2020 goal 5% real GDP growth impossible, as well as endangering a taxpayers’ revolt.  Good job, Mr. Albayrak, daddy in law will be proud of you when his party splits.

 

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