Treasury and Finance Minister Announces New Economy Package

Our country is going through a difficult period financially and is experiencing a major inflation problem. In the past days, the Minister of Treasury and Finance Nureddin Nebati made a statement that caused discussions that they did not expect any further depreciation.

Treasury and Finance Minister Nureddin Nebati made a new statement in his speech at the Istanbul Congress Center and talked about his plans. Minister Nabati announced the new Turkish Economy Model, in which they will make new changes in the fields of investment, employment, production and export.

The contents of the New Economy Package will be as follows:

Gold will be added to the economy

Minister Nebati said that they wanted to support the economy by bringing gold under the pillow to the economy. As of March 1, more than 1500 jewelers in 81 provinces will be involved in these works. He explained that it will financially support the economy if people deposit the gold they keep in their homes for investment purposes in gold conversion deposit and participation accounts in banks.

60 billion TL KGF support package

Minister Nebati announced that they have created a 60 billion lira Credit Guarantee Fund (KGF) support package. This support package is prepared as investment, export and operating expenses support package. to 3 packs will be divided. 25 billion of the 60 billion package will be divided into the investment support package, the other 25 billion will be divided into the export support package and the remaining 10 billion will be divided into the operating expenditures support package.

investment support package

Regarding the investment support package of 25 billion liras, Minister Nebati said, “The maximum amount for investment loans 24 months grace period, maximum 96 months maturityWe distribute to SME and non-SME areas. A maximum of 6 months grace period, maximum 30 months maturity and dividend rate of 0.24 TLREF plus 1.25 times surety limit investment-linked business loans to technology companies producing medium-high and high technology, fixed TLREF plus for over 24 months will be 2 percent. For banks, the interest rate will be 0.24, monthly floating TLREF plus 1 percent, and 24-month and above floating TLREF plus 2 percent. There will be a maximum limit of 25 million liras for each SME and 100 million liras for large companies.

export support package

The maximum credit limit for SMEs will be 25 million liras, and 100 million liras for large companies. Addressing the banks, Minister Nabati also invited private banks to cooperate in steps that will support our financial system. Minister Nebati also made a statement about the content of the export support package. Package export potential can be benefited by SMEs and companies operating in the export sector. 6 months grace period, 18 months term will provide credit facility.

It is aimed to ensure a permanent decrease in inflation by increasing production and exports.

Stating that the distribution packages will continue, the Minister of Treasury and Finance announced that they saved and distributed them. Aiming to increase production and export Minister Nabati said that exports and production will play a major role in reducing inflation.

An anti-inflation team will be established

Nureddin Nebati, the Minister of Treasury and Finance, has provided a way for people to follow inflation on their phones. mobile application announced that they would remove them and establish an anti-inflation team. With this special team to be established exorbitant pricing is intended to be prevented. Talking about the positive effects of natural gas and electricity subsidies on inflation, Nebati said that electricity and natural gas prices in Turkey ‘below real prices’ said that.