Citizens will pay the debt of Mega projects

Citizens will pay the debt of mega projects: The debt of the wealthy and businessmen are loaded into the Treasury. In the first place, 3 billion dollars of debt of 8.6 big projects were written to the Treasury. Next are billions of dollars of projects.
Contractors' external credit debts are loaded to the Treasury. In the first party, $ 8.6 billion of credit was written to the Treasury. Next comes billions of dollars of projects and foreign debt.
Treasury, which has difficulty in finding the external credit needed to win and build the tenders of mega projects such as roads, bridges, airports, tunnels, viaducts, under a regulation issued in 2014, the Treasury brings loans from abroad. According to the regulation, 1 billion pounds in the build-operate-transfer model (BOT) such as bridges and highways; In construction-leasing model, such as city hospitals, 500 will be able to undertake foreign credit debts of projects exceeding one million pounds. Thanks to the regulation, credit taps were opened to companies that could not find external debt with their own means.
The Undersecretariat of Treasury started to publish its obligations arising from debt undertaking agreements for the private sector's external loans. According to official data, the Treasury officially assumed a total of 3 billion 8 million (approximately 654 billion TL) credits from the 25 project, which the private sector has found from abroad. The private sector will pay these loans first. However, if the companies can not pay all debt will be credited to the creditors account by the Treasury. In order to make these payments, the Treasury will have to find foreign debt with high interest from abroad if necessary.
Among the projects in which the Treasury assumes its foreign debts, the Gebze-Orhangazi-İzmir highway, which includes Izmit Gulf Crossing and connection roads, is the first in size. For the project, which has a total size of 6 billion 312 million dollars, the production company has brought a loan of 4 billion 956 million dollars for now. The loan brought was written into the Treasury's debt undertaking account. The second project was the Northern Marmara Motorway Odayeri-Paşaköy section, including the 3rd Bosphorus Bridge. The Treasury has undertaken the loan of 3.4 billion 2 million dollars in two parties of this 738 billion dollar project. The third place was the Eurasia Tunnel Project of $ 1.2 billion. The firm brought $ 960 million in external loans for this project, and the Treasury wrote this loan on the loan undertaking list.
Due to the BOT and leasing models, it is known that the public will face serious resource shortages and debt burdens in the future. With the BOT model, the state actually pays the income of investments that 'lay eggs' such as highways and bridges to the private sector. When the snow is also taken into account, the state is deprived of the source from here for a very long time. The rental model will also make the state “tenant” in many areas, especially city hospitals, and the government will have to pay billions of liras to the private sector in the coming years. In order to meet the rents, the state will either increase taxes, raise services or borrow from outside. As a result, the burden of mega projects will be multiplied in the coming years to come before the citizens.

Günceleme: 10/12/2018 16:04

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