BY ALAATTIN AKTAS
The payment to be made from the budget for the FX-protected TRY deposit accounts (KKM) will show an incredible climb in June with the rise in exchange rates. The exchange rate difference payment, which will have to be made only from the budget, will reach TRY 75bn while the burden on the Central Bank is expected to be TRY 75bn. It is not easy to make predictions because the Central Bank and the Banking Regulation and Supervision Agency have obscured almost all the data on KKM. However, we can see what will happen in June, even with the most modest calculation. The highest monthly payment in KKM so far was TRY 23.3bn in July 2022. This can help us understand how TRY 75bn is a large amount for TL-denominated accounts. It is also important to remember that a total of TRY 97bn was paid in the seventeen months from March last year to May of this year, as a foreign exchange difference. The TRY 75bn, which the Central Bank will have to undertake only in June, is also a very large amount. The Central Bank made a payment of approximately TRY 90bn for the KKM last year.