The Turkish government proposes a huge supplementary budget to counter inflation

The Turkish government has submitted a proposal to parliament for a supplementary budget, worth about one trillion lira ($57.74 billion).

According to the Anadolu Agency, the proposal with this huge budget aims to cover an increase in costs and to address the decline of the local currency, sharp increases in energy prices and hyperinflation.

The agency cited the figure, citing a text of a budget proposal signed by Turkish President Recep Tayyip Erdogan.

Erdogan was quoted as saying that large price increases in general occurred as a result of economic and geopolitical developments around the world and in our country, and therefore there was also a need for increases in budget payments.< /p>

The proposal would have to be approved by a parliamentary committee and then passed by the full parliament, but parliament normally takes a summer recess from early July to early October.