In the Official Gazette dated September 4, 2022, two articles were included regarding cryptocurrencies. Here are the details…
There are crypto money items in the Official Gazette
In the repeated issue of the Official Gazette dated September 4, 2022, the Medium Term Program was approved. This program will cover a two-year period, 2023-2025. The program was also approved by President Recep Tayyip Erdogan. In this program, there are two articles on cryptocurrencies. First of all, in the Financial Stability subheading of the Macroeconomic Objectives and Policies section, there were explanations about the usage tests of the Digital Turkish Lira. The target of starting usage tests for the Digital Turkish Lira has been determined.
According to the article, “in line with the first and second phase pilot findings of the Digital Lira Research and Development Project”, the use of digital Turkish Lira for payments will begin to be tested. cryptocoin.com As we have also reported, studies for the Digital Turkish Lira have been underway for a while. Most recently, it was aimed to start working with ASELSAN, HAVELSAN and TÜBİTAK-BİLGEM. The studies are expected to be made public this year.
Other articles in the Official Gazette
According to the new two-year Medium-Term Program published in the Official Gazette on Sunday, the government expects the inflation rate to fall to about 25 percent next year. In the same report a year ago, 2022 inflation was estimated to be just 9.8 percent. In July, the Central Bank of Turkey had estimated the year-end inflation for 2022 as 60.4 percent. The Turkish Statistical Institute will announce the inflation figures for August on Monday. Other highlights from Turkey’s forecasts published on Sunday are as follows:
- Inflation slowing to 24.9 percent in 2023. to 13.8 percent in 2024 and 9.9 percent in 2025.
- While GDP growth is seen as 5 percent this year and next year, the ratio of current account deficit to GDP is expected to be 5.9 percent in 2022 and 2.5 percent in 2023.
- The foreign trade deficit is expected to reach 105 billion dollars in 2022 and 80 billion dollars in 2023.
- The unemployment rate will fall to 10.8 percent this year and 10.4 percent next year.
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