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The Cabinet has made a adjustment to the late payment interest rates applicable to public debts, effective from September 1, 2024. The interest rate for public debts denominated in Turkish Lira will be set at 5% for the first month and 4% for each subsequent month. This change will lead to an increase in the debt for those who do not fulfill their payment obligations. The economic impacts and obligations on individuals should be carefully evaluated in light of this new regulation.
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