KKM, which was put into effect to stop the depreciation of the Turkish Lira and prevent a possible shift towards foreign currency due to low interest rates, did more harm than good.
Unable to prevent the depreciation of TL and the increase in foreign currency, KKM not only transferred wealth from the poor to the rich, but also caused a loss of 818.2 billion liras on the Central Bank's balance sheet.
In his statement at the Grand National Assembly of Turkey Planning and Budget Commission, Central Bank Governor Fatih Karahan stated that the loss caused by KKM was also written in the activity report of the Central Bank and that this amount was not covered up, and said, "The damage caused by KKM is 833 billion liras."
MİLLİ GAZETE WRITES THE FAIR AND TRUTH AGAIN...
Exchange Rate Protected Deposits (KKM), which the government launched as if it were a very useful policy to save the economy from the swamp and protect the value of the Turkish lira, have now caused heavy economic damage to our country.
Again, it was only Milli Gazete that put forward a visionary perspective on the Exchange-Protected Deposit issue, which Turkey's leading media organizations were raving about.
ONE OF THE RESPONSIBILITIES OF THIS BURDEN IS THE KHODJAS WHO GIVEN THE FATWA
With its headlines, Milli Gazete had repeatedly brought to the agenda that KKM would bring more harm than good to the country's economy and that it was not religiously permissible because it encouraged unfair gain.
While the point reached today once again vindicates Milli Gazete, the media, which plays with the perceptions of the citizens by portraying Exchange Protected Deposits as the "golden key to fixing the economy", and the hodjas who gave the fatwa that KKM is "halal", are left speechless.