TCDD's Debt Breaks a Historical Record

TCDD's Debt History Breaks a Record
TCDD's Debt Breaks a Historical Record

The debt of TCDD, for which the AK Party is preparing for privatization, broke a historical record. As of August, the total debt of the administration reached 5,3 billion TL, while TCDD constituted 82 percent of the total debt of SEEs.

The debts of TCDD, which is one of the most important institutions of the Republic and planned to be privatized with the "holding model", increased exponentially. According to the Treasury's data, which reminds of the claim that "Privatization is being paved with debt", TCDD's total debt reached 2,4 billion TL as of August, of which 5,3 billion TL consists of overdue debts.

According to the news of Mustafa Bildircin from BirGün, the Treasury Receivables Stock once again revealed the debt swamp of TCDD, which is described as the "backyard of the power" due to the employment of former bureaucrats from the lost municipalities. According to the data of the Ministry of Treasury and Finance, the debt of the administration to the Treasury continued to increase every month as of 2022.

MOST OF THE DEBT IS TCDD's

The Ministry of Treasury and Finance has published the Public Debt Management Report for August. In the report, the total debts of the State Economic Enterprises were given under the title of “Treasury Receivables Stock”. TCDD came to the fore as the most indebted institution among the five SOEs that are indebted to the Treasury. 6 billion 400 TL of the total 5 billion 299 million TL Treasury debt of SEEs consisted of TCDD's debts. The ratio of TCDD's Treasury debt to the total Treasury debt of SOEs was 82 percent.

OVERDUE DEBT

Overdue debts accounted for 46 percent of TCDD's total debt. It has been reported that the total amount of the overdue debts of the administration is 2 billion 455 million TL. 2 billion 844 million TL of the total debt was classified under the “Undue Receivables” item.

DEBT EXTENDED

The increase in the overdue debt stock of the administration over the years also showed that the problems experienced in the administration were getting bigger. Accordingly, the debts of the administration, which had only 2013 million TL of overdue debt in 93, reached 2014 million TL and 2015 million TL in 245 and 425, respectively.

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