President Recep Tayyip Erdogan on Thursday announced Turkey will provide cheaper loans for Tourism and export sector investments earn foreign revenue.
address gathering of small business friends in In the capital, Ankara, Erdogan said that export-related loans would drop their rates to 9%. Finance of 100 billion Turkish liras ($6.8 billion) will be freed up for Exporters and 50 billion TL for tourism sector.
The industry welcomed announcementShe will make a positive contribution at such a difficult time.
“So we want To bring Turkey to good point, if we want To increase exports, financing costs must be reduced, said Mustafa Gültepe, head of Istanbul Garment Exporters Association (IHKIB).
“This incentive will have a very positive effect on “Investment,” Gultepe said private Broadcaster Bloomberg HT. he is added To make these incentives long-term Continuing will be positive for All companies that want The investment will certainly make a positive contribution to the investment.
For his part, President of the Tourist Businessmen Association of Dalaman, Ortaca and Koycegiz (DOKTOB) Yucel Okutur stressed the importance of of The package who comes just With the advent of the tourist season a new season.
“I find the loan support It is very positive and will provide a serious and important start,” Okotor said.
Erdogan supported monetary easing to boost credit and exports and vice versa current Account deficit.
In September, Central Turkey bank embarked on Mitigation cycle, which experienced policy rate It is reduced by 5 percent points to 14%.
Dilution came as government supported new economic program that prioritizes lower borrowing costs, a current Excess account growth, exports, credit, and employment.
Erdogan referred to the latter price developments, saying “extravagant” price Most of the increases are attributed to energy and commodity markets and currency instability.
He reiterated that these who It would be unfair to raise prices punished.
Turkey’s annual inflation rises to 61.14% led by energy costs and food prices. in March new 20-year Average.
