Hoti: The government is holding 210m euros without need, they are being devalred by inflation

Hoti has said that as those vehicles circulate into the economy, they would multiply twice or three times.

The government's “Blanci banking on June 30th 2022 has reached nearly 600m euros, which is close to 7 per cent of the Bruto (PBB) Interior Product. This is well beyond the bank balance limit needed to have the Government to be sufficiently liquid, which is about 4.5 percent of GDP, or about 390m euros. This high level of banking balance means that the government is holding about 210m euros without any need, which means are being devalated by high inflation. If these vehicles were to circulate into the economy, they would be multiplied by two to three times, thus increasing aggregate demand and resulting income, consumption and employment”, Hoti wrote in his account at “Facebook”

Furthermore, Hoti has said that the current level of government banking balance is also an abuse of official office.

In a highly high inflation situation -- and close to 600m euros of cash in cash in cash -- it is unacceptable why the government does not index pensions, social schemes, wages and farm subsidies according to the inflation rate. Moreover, it does not temporarily remove the excise in derivatives to reduce the price of derivatives and, therefore, the price of many other products, which is greatly affected by transportation costs. Why should the government keep 600m euros in its bank account? I expect government economists to explain this for citizens. This situation presents irresponsibleness and inability to lead the state. I'm talking about a state with market economies. This level of government banking balance also constitutes abuse of office, as the law gives the government the right to collect taxes, but by maintaining social and economic equality”, Hoti wrote.