The government of President Recep Tayyip Erdogan has waived nearly 30 billion lira, equal to 1.61 billion US dollars, in debts, fines and fees under a new law passed on Thursday.

“With the amendment made in … the law, the difference due to inflation accounting in student loan repayments has disappeared. Now only the loan amount used will be repaid,” Mehmet Kasapoglu, Minister for Youth and Sport, said.

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The government has written off student loans’ interest rates and late fees worth 27 billion Turkish lira or 1.45 billion US dollars, all pandemic fines issued during the COVID-19 pandemic [2.7 billion Turkish lira or 145 million US dollars] and other debts to the state including utility bills under 2,000 lira (107 US dollars).

Read more: Balkan Insight