Felicity (Saadet) Party, Republican People's Party (CHP), Good (İyi) Party, Democracy and Progress (Deva) Party, Future (Gelecek) Party and Democrat (Demokrat) Party came together and the "Institutional Reforms Commission", which was formed to determine the strategies in the field of economy, announced the report it prepared.
The commission consisting of Saadet Party Deputy Chairman Sabri Tekir, CHP Spokesperson Faik Öztrak, Deva Party Deputy Chairman İbrahim Çanakçı, Good Party Deputy Durmuş Yılmaz, Future Party Policy Monitoring Board President Feridun Bilgin and Democrat Party Deputy Chairman Bülent Şahinalp made a joint press statement.
A SITUATION AND DAMAGE ASSESSMENT COMMITTEE WILL BE ESTABLISHED
While each of the party representatives is explaining certain parts of the report, according to the report, when the 6 table comes to power, they will form a "Condition and Damage Determination Committee" in order to determine the economic picture that first emerged in Turkey.
The Board will be fully authorized to request data and information from institutions. The Commission will report data quality problems, public harm, risks to the President. In addition, the commission, which explained the steps such as strengthening the structure of the Central Bank and changes in its practices, adding functionality to the Economic and Social Council, also announced that the "Strategy and Planning Organization" would be formed. The measures taken to give the “Economic and Social Council” a function were also listed. The Council will make recommendations on issues such as stability, efficiency from resource allocations, increasing competitiveness, increasing agricultural production, food security and sufficiency, ensuring green and digital transformation, environment, employment and social life.
THE STRUCTURE OF THE CENTRAL BANK WILL BE REORGANIZED
On the other hand, in the report, in which it was announced that the structure of the Central Bank would be reorganized, it was emphasized that the Central Bank aims to be a reputable institution that uses its instruments independently and takes decisions within the framework of the inflation target and exchange rate regime determined with the government in order to reduce inflation to single-digit figures permanently. In addition, changes are foreseen for the appointment of the head of the Central Bank. According to this; The top management of the Central Bank will be appointed for a period of 5 years. The president will be appointed by the decision of the Council of Ministers, and the vice presidents will be appointed by a tripartite decree upon the proposal of the president. Before the President is appointed, it will be subject to an open evaluation in the Planning and Budget Committee of the Grand National Assembly of Turkey.
PUBLIC DAMAGES WILL BE RETURNED TO APPLICABLES
In line with the main function of macroprudential policies, it will be ensured that they focus on reducing existing risks and preventing risk accumulation. In addition, necessary structural adjustments will be implemented in areas such as the composition of the fiscal policy, managed prices, production structure, competition and productivity in order to support the fight against inflation.
Necessary work will be carried out to reintroduce the qualified personnel who have been forced to leave the bank recently. High standards will be brought again in the recruitment criteria and training processes.
The headquarters of the Central Bank of Republic of Turkey (TCMB) is in the capital, Ankara. The process of moving the bank to Ankara will be provided as soon as possible. Transactions of moving out of Ankara in violation of the Bank's Law and the public loss incurred after these transactions will be subject to administrative and legal inspection and the damages will be recourse to the relevant parties.
STEPS TO BE TAKEN
The steps to be taken regarding the structure of the Central Bank are listed as follows:
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The Price Stability Committee, which has no functionality and interferes with the independence of the Central Bank and conflicts with authority-responsibility, will be abolished.
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In order to monitor financial stability more effectively at the macro level, the institutional structure of the Financial Stability Committee will be strengthened, regular meetings of the Committee will be ensured, and the decisions will be announced to the public in detail.
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Practices that will further strengthen the coordination between the TCMB and the Banking Regulation and Supervision Agency (BDDK) and ensure that monetary and credit policies are carried out more harmoniously will be implemented.