{"id":1875,"date":"2021-11-12T11:50:05","date_gmt":"2021-11-12T08:50:05","guid":{"rendered":"http:\/\/www.ahmetcemaliadir.com\/tr\/?p=1875"},"modified":"2021-11-12T11:50:06","modified_gmt":"2021-11-12T08:50:06","slug":"butce-finansmani","status":"publish","type":"post","link":"http:\/\/www.ahmetcemaliadir.com\/tr\/2021\/11\/12\/butce-finansmani\/","title":{"rendered":"B\u00fct\u00e7e Finansman\u0131"},"content":{"rendered":"\n<p>B\u00fct\u00e7e dengesi konu oldu\u011funda kar\u015f\u0131m\u0131za iki t\u00fcr denge \u00e7\u0131kar:<\/p>\n\n\n\n<p>(1) B\u00fct\u00e7e dengesi,<br>(2) Nakit dengesi.<\/p>\n\n\n\n<p>B\u00fct\u00e7e dengesi b\u00fct\u00e7e gelirlerinden b\u00fct\u00e7e giderleri d\u00fc\u015f\u00fclerek bulunur. Gelirler giderlerden k\u00fc\u00e7\u00fckse b\u00fct\u00e7e a\u00e7\u0131\u011f\u0131 ortaya \u00e7\u0131kar. B\u00fct\u00e7e dengesinde b\u00fct\u00e7e gelirleri tahsilat esas\u0131na yani kasaya giren para esas al\u0131narak, b\u00fct\u00e7e giderleri ise tahakkuk esas\u0131na yani \u00f6deme yap\u0131lmam\u0131\u015f olsa bile gider karar\u0131na g\u00f6re yaz\u0131l\u0131r. B\u00fct\u00e7e dengesinden hen\u00fcz \u00f6denemedi\u011fi i\u00e7in emanete al\u0131nan paralar ile avans olarak \u00f6dendi\u011fi halde hen\u00fcz b\u00fct\u00e7eye gider yaz\u0131lmam\u0131\u015f olan paralar\u0131n d\u00fc\u015f\u00fclmesi (eklenmesi) ile nakit dengesine ula\u015f\u0131l\u0131r. Uzun d\u00f6nemde bu iki denge birbirine e\u015fitlense de anl\u0131k \u00f6l\u00e7\u00fcmlerde farkl\u0131 \u00e7\u0131kabilir. Hazine\u2019yi ilgilendiren nakit dengesidir. \u00c7\u00fcnk\u00fc finanse etmesi gereken miktar nakit gelir \u2013 gider fark\u0131d\u0131r.<\/p>\n\n\n\n<pre class=\"wp-block-code\"><code> A\u015fa\u011f\u0131daki tablo; 2017 y\u0131l\u0131n\u0131n Ocak ve A\u011fustos d\u00f6nemindeki toplam merkezi y\u00f6netim b\u00fct\u00e7e ve nakit dengesi finansman\u0131n\u0131 g\u00f6steriyor (Kaynak: Hazine M\u00fcste\u015farl\u0131\u011f\u0131 web sitesi: https:\/\/www.hazine.gov.tr\/tr-TR\/Istatistik-Sunum-Sayfasi?mid=59&amp;cid=12&amp;nm=167)<\/code><\/pre>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/www.ahmetcemaliadir.com\/wp-content\/uploads\/2021\/03\/aca1.png\" alt=\"\" class=\"wp-image-6918\"\/><\/figure>\n\n\n\n<p>Tabloya g\u00f6re merkezi y\u00f6netimde bu y\u0131l\u0131n ilk 8 ay\u0131nda 408,7 milyar TL tutar\u0131nda gelir toplanmas\u0131na kar\u015f\u0131l\u0131k 433,8 milyar TL tutar\u0131nda gider yap\u0131lm\u0131\u015f ve dolay\u0131s\u0131yla 25,2 milyar TL b\u00fct\u00e7e a\u00e7\u0131\u011f\u0131 olu\u015fmu\u015f bulunuyor (Tablonun 11. s\u0131ras\u0131.) Bu a\u00e7\u0131\u011fa emanetler ve avanslarla ilgili i\u015flemler eklenip \u00e7\u0131kar\u0131ld\u0131\u011f\u0131nda kar\u015f\u0131m\u0131za 24,7 milyar TL\u2019lik bir nakit a\u00e7\u0131\u011f\u0131 \u00e7\u0131k\u0131yor (Tablonun 15. s\u0131ras\u0131.) Demek ki ilk 8 ayl\u0131k b\u00fct\u00e7e uygulamas\u0131 sonucunda Hazinece bor\u00e7lan\u0131larak finanse edilmesi gereken 24,7 milyar TL tutar\u0131nda bir nakit a\u00e7\u0131\u011f\u0131 olu\u015fmu\u015f bulunuyor. Hazine, bu a\u00e7\u0131\u011f\u0131; 11 milyar TL\u2019si d\u0131\u015f, 44,6 milyar TL\u2019si i\u00e7 bor\u00e7lanma olmak \u00fczere toplam 55,6 milyar TL net bor\u00e7lanma yaparak finanse etmi\u015f g\u00f6r\u00fcn\u00fcyor (Tablonun 17. s\u0131ras\u0131.) (Net bor\u00e7lanma demek vadesi gelmi\u015f bor\u00e7lar\u0131 yeni bor\u00e7lanmalarla \u00f6demi\u015f, \u00fcste elinde net olarak bu miktarlar kalm\u0131\u015f demektir.)<\/p>\n\n\n\n<p>Net bor\u00e7lanma 55,6 milyar TL\u2019den, nakit a\u00e7\u0131\u011f\u0131 (yani finansman ihtiyac\u0131) olan 24,7 milyar TL\u2019yi d\u00fc\u015fersek 30,9 milyar TL kal\u0131r. Buna bir de 0,2 milyar TL net bor\u00e7 verme eklenirse kasa\/banka ve di\u011fer i\u015flemlerde duran para olan 31,1 milyar TL\u2019ye ula\u015f\u0131l\u0131r (Tablonun son s\u0131ras\u0131.) (31,1 milyar TL\u2019nin eksi i\u015faret ta\u015f\u0131mas\u0131 sizi yan\u0131ltmas\u0131n bu i\u015faret kasa ve bankaya ilave edilen para demektir.)<\/p>\n\n\n\n<p>Bu kar\u0131\u015f\u0131k gibi g\u00f6r\u00fcnen hesab\u0131 basite indirerek \u00f6zetleyelim: Merkezi y\u00f6netim b\u00fct\u00e7esi y\u0131l\u0131n ilk 8 ay\u0131nda 24,7 milyar TL nakit a\u00e7\u0131\u011f\u0131 vermi\u015f. Hazine, net olarak 55,6 milyar TL bor\u00e7lanm\u0131\u015f. Bor\u00e7land\u0131\u011f\u0131 55,6 milyar TL\u2019nin 24,7 milyar TL\u2019siyle a\u00e7\u0131\u011f\u0131n\u0131 kar\u015f\u0131lam\u0131\u015f. Kalan 31,1 milyar TL\u2019yi kasas\u0131na ve banka hesaplar\u0131na koymu\u015f.<\/p>\n\n\n\n<p>\u015eimdi gelelim ba\u015fl\u0131ktaki meseleye yani b\u00fct\u00e7e finansman\u0131ndaki tuhafl\u0131klara. Finanse edilmesi gereken a\u00e7\u0131k 24,7 milyar TL iken i\u00e7 bor\u00e7 \u00e7evirme oran\u0131n\u0131n y\u00fczde 140\u2019lara \u00e7\u0131kmas\u0131na yol a\u00e7acak \u015fekilde 55,6 milyar TL net bor\u00e7lanmaya gidiliyor. Orta Vadeli Programda enflasyonun d\u00fc\u015fece\u011fi (dolay\u0131s\u0131yla faizlerin de d\u00fc\u015fece\u011fi) \u00f6ng\u00f6r\u00fcs\u00fc yap\u0131lm\u0131\u015fken, faizlerin artmas\u0131na ve \u00f6zel kesimin d\u0131\u015flanmas\u0131na yol a\u00e7\u0131lmas\u0131na bak\u0131lmadan y\u00fczde 11 dolay\u0131nda bulunan y\u00fcksek faizle ihtiya\u00e7tan fazla bor\u00e7lan\u0131l\u0131yor. \u00dcstelik bor\u00e7lanma i\u00e7in konulmu\u015f bulunan limit a\u015f\u0131l\u0131yor ve limit art\u0131r\u0131m\u0131 i\u00e7in yasa \u00e7\u0131kar\u0131lmaya \u00e7al\u0131\u015f\u0131l\u0131yor. Olduk\u00e7a ilgin\u00e7 bir bor\u00e7lanma program\u0131yla kar\u015f\u0131 kar\u015f\u0131yay\u0131z.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>B\u00fct\u00e7e dengesi konu oldu\u011funda kar\u015f\u0131m\u0131za iki t\u00fcr denge \u00e7\u0131kar: (1) B\u00fct\u00e7e dengesi,(2) Nakit dengesi. B\u00fct\u00e7e dengesi b\u00fct\u00e7e gelirlerinden b\u00fct\u00e7e giderleri d\u00fc\u015f\u00fclerek bulunur. Gelirler giderlerden k\u00fc\u00e7\u00fckse b\u00fct\u00e7e a\u00e7\u0131\u011f\u0131 ortaya \u00e7\u0131kar. B\u00fct\u00e7e dengesinde b\u00fct\u00e7e gelirleri tahsilat esas\u0131na yani kasaya giren para esas al\u0131narak, b\u00fct\u00e7e giderleri ise tahakkuk esas\u0131na yani \u00f6deme yap\u0131lmam\u0131\u015f olsa bile gider karar\u0131na g\u00f6re yaz\u0131l\u0131r. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-1875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finans"],"_links":{"self":[{"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/posts\/1875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/comments?post=1875"}],"version-history":[{"count":1,"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/posts\/1875\/revisions"}],"predecessor-version":[{"id":1877,"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/posts\/1875\/revisions\/1877"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/media\/1876"}],"wp:attachment":[{"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/media?parent=1875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/categories?post=1875"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.ahmetcemaliadir.com\/tr\/wp-json\/wp\/v2\/tags?post=1875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}