ANKARA

 The main opposition party's election promises for the economy are "hollow" and "utopic," Turkish Finance Minister Mehmet Simsek said Tuesday.

Speaking at a live interview at the private Kanal 24 channel, Simsek addressed these issues after the main opposition Republican People’s Party, or CHP, leader Kemal Kilicdaroglu announced his party’s election manifesto on Sunday.

The CHP plans to raise the minimum wage, improve conditions of the poor, retired and subcontracted laborers, as well as supporting tradesmen and small- and medium-sized enterprises.

"I insist that either they do not know how to count, or they are telling lies while looking straight into the eyes of the people. These are all hollow promises," Simsek said. 

He added "Our forecast for the budget deficit in the coming year is 15.8 billion Turkish liras ($ 5.8 billion). Their promises would multiply this number by 10."

"We counted again, but no matter how we calculate it, it cannot be less than 150 billion Turkish lira."

"I insist that if you widen the budget deficit, inflation will explode, interest rates will increase and Turkey will experience a balance of payment crisis," the minister said.

The opposition leader Kilicdaroglu promised his party would raise the minimum wage from the current 949 Turkish liras (about $355) to 1,500 liras ($561), by cutting taxes.

He also stated that low-income families would receive “family insurance,” adding their monthly income would not be lower than 720 liras. He stated that retirees would receive two additional pension payments on the religious holidays of Ramadan (Eid el-Fitr) and Sacrifice (Eid el-Adha).

An additional monthly aid, ranging from 200 to 600 Turkish liras ($74 to $225) would be given to the family members of a military officer, to citizens over 65, and to the disabled. Additionally, at least 50,000 disabled would be employed in private or public sectors and receive free healthcare.

He also promised to provide general health insurance to more than 2 million Turkish citizens as well as social benefits to 5 million citizens.

The finance minister said he is ready to discuss the election manifesto and finance with Kilicdaroglu in any platform. 

"Kilicdaroglu might be an accounting expert. I respect him," said Simsek, adding "But, they should tell us the total amount of money needed to fulfill these promises."

Regarding the increase in the U.S. dollar, Simsek said "The fluctuation is not specific to Turkey."

Simsek said some tried to show that only the Turkish lira has been affected by dollar strength, but this is "completely wrong."

"Comparing the decrease in the value of the Turkish lira with that of other currencies, there is no difference," he added.

He added Turkey would see positive change, if the election does not create uncertanity.

Approximately 56 million Turkish citizens will vote on June 7, in the country's 25th general elections, to elect the 550 members of Parliament.

Turkey had held general elections every five years until a 2007 constitutional change which set elections to every four years.