With a new decree issued by President Erdoğan, the state treasury that is governed by his Minister son-in-law Berat Albayrak was allowed to partner with domestic or foreign companies. From now on, the state treasury will be able to partner with companies upon a Presidential decree.
The same decree gave new authorities to Minister of Treasury and Finance, Berat Albayrak. From now on, the Ministry will regulate, execute and monitor activities on insurance policies and the private retirement system. The duties of the Ministry will also include, “conducting studies that progresses the financial sector and strengthens financial stability.”
With Presidential Decree No. 43, billions will be able to be transferred from the public budget to companies with the decision of one individual, without any criteria or restriction – as long as Erdoğan wants it or the company in question has good relations with the President. If Erdoğan wants, he will even be able to save insolvent companies with the money of the public. Thus, there is no obstacle – neither the Parliament, nor the judiciary – against Erdoğan using the state treasury like his own personal safe…