The Turkish guarantee authority sells its real estate after a deficit of 50 billion lira

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The Turkish guarantee authority sells its real estate after a deficit of 50 billion lira

Reuters

Murad SezerÊ

Istanbul, Turkey – Archive

The Turkish Social Security Authority put up its properties for sale after recording a deficit of 50 billion and 39 million liras during the first 7 months of 2020.

The authority recorded a deficit of 39.9 billion liras by the end of 2019, but this percentage increased during the first seven months of last year.

The Turkish newspaper “Suzjo” reported that “the Social Security Authority is offering its real estate and movable properties that are subject to foreclosure for sale through public auction.”

During the period between 2015 and 2019, the Social Security Authority sold 10 thousand and 886 units of its movable properties subject to foreclosure, which is estimated at 521,251 units, while it sold 1,328 properties out of 305 thousand and 239 properties subject to foreclosure.

The Turkish Commission must achieve within 5 years revenues of 68 billion and 985 million liras from the sale of the movable property and real estate it offered during the period between 2015 and 2019, but only 297 million and 35 thousand liras entered its treasury during that period.

Source: “Turkish Zaman”





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