Transition Projects Turkey Not Guaranteed Contractors Uçurdu

turkiyede end of the transition were not guaranteed the project contractors of
turkiyede end of the transition were not guaranteed the project contractors of

As the dollar rises, so does the cost of public-private partnership projects. According to finance expert Kerim Rota, even a penny increase in dollar costs billions of liras to the Treasury.


The dollar / TL exchange rate, which broke the historical record the previous day, started the day with an increase yesterday. The rate, which broke a new record by seeing the level of 7,37 TL during the day, fell to 7,15 after that. The high price volatility of 2 percent is not over.

According to the news in BirgünOn the other hand, experts state that the dollar exchange rate is upward. However, even though the public's anxiety is increasing due to this situation, the capital circles clustered around the government are scratching their prey. Because in recent years, almost all of the guarantee prices of the projects carried out under the name of public-private cooperation (PPP) by build-operate-state method are indexed to dollars. Moreover, the Treasury financed the record budget deficit, which it started to give with the epidemic, with domestic debt in foreign currency and gold. In other words, the debt burden of the treasury, financed by the people's money, increases every time dollar, euro, gold rises by 1 cent, the contractors of the guaranteed projects and the capital circles that lend to the treasury get rich. In projects with dollar guarantee, especially Osmangazi and Yavuz Sultan Selim (3rd Bridge) attract attention.

THE PAID BY THE NON-EXPENSIVE INCREASED 51 LIRA

Introduced as the longest bridge in the world, the Osmangazi Bridge is operated by Otoyol AŞ, in which Nurol, Özaltın, Makyol, Astaldi, Yüksel and Göçay Group are partners. The bridge will be operated by this company for 22 years on a build-operate-transfer method. In return, the company has an annual pass guarantee of 35 million 14 thousand vehicles for 600 dollars plus VAT per vehicle. On the other hand, the cost of crossing the bridge for cars is 117,9 TL, which is below the guarantee price.

1,5 times the history of the Republic

We asked the finance expert Kerim Rota, who is known for his studies on the subject, how much the guarantee amounts will be affected by the exchange rate increase. According to Rota, the Treasury has committed 75 billion dollars over the years due to the build-operate-transfer model. Rota's expressions are as follows; "COD projects, all the external public debt of the Republic of Turkey formed throughout the history of the case have been entered into foreign exchange contracts, up 1,5 times. Most of these commitments were realized between 2010 and 2013. If the exchange rate increases by 5 percent, an additional cost of approximately 35 billion lira will occur. Most of these contracts were made years ago and the warranty prices have multiplied in lira since then. Turkey in per capita national income of 12 while thousand dollars, and the project was tendered with projections to rise further to 25 thousand dollars, per person at the point we have reached today imposes heavy burden on an economy with 8 thousand dollars of national income. "

VILLAGE PROJECTS 75 BILLION DOLLARS

A commitment of $ 75 billion has been made with public-private partnership projects. The lion's share of these projects belongs to Highway projects. According to Presidency Strategy and Budget Directorate data, the investment value of highways built through PPP projects is 23,58 billion dollars. This is followed by airports with $ 19,08 billion, energy with $ 18,23 billion and healthcare with $ 11,59 billion. Together with other projects, the total investment reaches 75 billion dollars. Thus, as the dollar rate increases, the amount paid to operating companies increases by billions of liras. This increase is financed from the public pocket.



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