Turkish government announces extraordinary measures for economy – economics

AA photoThe Turkish government has revealed extraordinary measures to revive the Turkish economy, which has been hit by massive losses in the Turkish Lira, vowing to make 2017 a “saving year” for the public sector and introducing a big fund to accelerate credit volume and create 600,000 new jobs.

Announcing the results of the latest economy board meeting in Ankara on Dec. Dena bank fd interest rates 2014 8, Prime Minister Binali Yıldırım said the government would introduce up to 250 billion liras ($73 bln) in credit line that was particularly aimed at small- and medium-sized enterprises (SMEs) to ease the cash flow problem.

In export credits, the guarantee will be 100 percent, while it will be implemented to a degree of 90 percent in SMEs and 85 percent in trade credits, Yıldırım added.


Accordingly, the government will also give additional support to projects with an investment incentive to the manufacturing industry in a move to encourage and increase private sector investments in 2017.

“The government will increase the investment contribution rate a further 15 percent for investment expenditures in the manufacturing sector in 2017. Repco bank interest rates fixed deposits We will thus fully implement a corporate tax cut,” said the prime minister.

Yıldırım added that the value added tax (VAT) for construction investments would be re-funded for 2017 as an additional resource for construction projects.

In addition, the premier also said the Turkish Employment Agency (İŞKUR) would provide vocational training to 500,000 people in 2017 in the private sector as another 100,000 would continue to work for benefit of society program, mainly in the country’s eastern and southeastern regions.

Yıldırım also noted that the capital base of Eximbank, which is at around $3.7 billion, will be increased dramatically next year to further support exporters.

“We will also put zero interest rates on foreign exchange loans which are offered to Turkish construction companies operating abroad for their Turkey-made goods and services acquisitions. Current bank interest rates in ghana They will not be charged any interest rate for the loans, which are used by these companies for locally made goods and services to be used abroad. Best bank deposit interest rates These costs will be covered by Exim Bank as well,” he said.

“When we are asking something from our people, what are we going to do? For the state, 2017 will be a considerable year of savings. Current bank interest rates nz We will cut costs dramatically. Syndicate bank interest rates on fd For in-stance, we will not conduct spending on new buildings or cars if it is not a must … We will also cut travel costs. Federal bank fd interest rates 2013 As the representatives of the state, we must do what is needed when asking our citizens to convert their foreign currencies into lira,” he said.

“Besides, some public institutions have already started to convert their foreign exchange assets into liras. Abhyudaya bank fd interest rates 2013 Thus, we have recently created over $10 billion of assets in liras. Bank interest rates for savings This has also enabled us to pump more forex into the markets as well,” added Yıldırım.

Regarding the reform agenda, Yıldırım said the basics of the reform agenda were to limit the state’s definite involvement in the economy, enabling citizens to move at will and re-duce bureaucratic burdens for them.

“There are two areas that we cannot abandon: justice and security. Ulster bank interest rates on savings These two key areas will be in the hands of the state and will not be a part of any reform move. Axis bank interest rates for fixed deposits We will take the required measures to let them function properly and quickly within themselves,” he said.

Top economy ministers and officials held the meeting late on Dec. Best bank fd interest rates in india 2 amid sharp decreases in the value of the Turkish Lira, which has been closely followed by the markets. Current bank interest rates for savings account The lira has recently been one of the worst hit emerging currencies due to several global and domestic developments, especially since the U.S. Us bank interest rates savings account presidential elections.

• Russia’s ambassador to Turkey, Andrey Karlov, was assassinated at an art exhibition in the Turkish capital of Ankara on Dec. Saving bank interest rates comparison 19, Russia and Turkey have confirmed. Axis bank fd interest rates 2013 Russian Ambassador to Turkey Andrey Karlov assassinated in Ankara

• The man who killed Russian Ambassador Andrey Karlov on Dec. What are current bank interest rates 19 at an arts center in Ankara was admonished by security personnel at the entrance to the venue after he refused to proceed through an X-ray device Karlov’s assassin bypassed security with police ID

• Russia, Turkey and Iran have agreed to jointly act on Syria, one day after the Russian ambassador to Turkey was assassinated in the Turkish capital, as evacuations from the besieged parts of eastern Aleppo continued on Dec. Hdfc bank interest rates on fixed deposits 2013 20. Swiss bank account interest rates Russia, Turkey and Iran agree on joint Syria action

• “The murder of an ambassador is among the gravest crimes under international law. Andhra bank fd interest rates 2013 Russia will not let this go unpunished.” Difficulties ahead of Turkey after assassination of Russian ambassador

• For the first time since the 1917 Bolshevik revolution in Russia, an emissary of Moscow has fallen prey to heinous terrorism – in the heart of Ankara. Fixed deposit interest rates in south indian bank A shameful tragedy

• The assassination was not only conducted against Russia’s ambassador to Ankara, Andrey Karlov; those bullets were not only fired at him. Bank fixed deposit interest rates in singapore Assassination cell of FETÖ

• Turkey’s fight against outlawed Kurdistan Workers’ Party (PKK) terrorism has created some interesting undercurrents and deep tides in society that cannot be overlooked. Us bank interest rates on savings account Your lone wolf next door

• The assassination of the Russian ambassador to Turkey, Andrei Karlov, was first and foremost a human tragedy. Bank interest rates for fixed deposits Thoughts on the murder of the Russian ambassador

• Safranbolu’s identity changed after it gained UNESCO World Heritage Status more than two decades ago, according to officials. Bank of queensland interest rates The number of tourists has increased over the past 22 years Safranbolu’s fate shaped by UNESCO inclusion

AA photoThe Turkish government has revealed extraordinary measures to revive the Turkish economy, which has been hit by massive losses in the Turkish Lira, vowing to make 2017 a “saving year” for the public sector and introducing a big fund to accelerate credit volume and create 600,000 new jobs.

Announcing the results of the latest economy board meeting in Ankara on Dec. Commercial bank interest rates for savings accounts 8, Prime Minister Binali Yıldırım said the government would introduce up to 250 billion liras ($73 bln) in credit line that was particularly aimed at small- and medium-sized enterprises (SMEs) to ease the cash flow problem.

In export credits, the guarantee will be 100 percent, while it will be implemented to a degree of 90 percent in SMEs and 85 percent in trade credits, Yıldırım added.

Accordingly, the government will also give additional support to projects with an investment incentive to the manufacturing industry in a move to encourage and increase private sector investments in 2017.

“The government will increase the investment contribution rate a further 15 percent for investment expenditures in the manufacturing sector in 2017. All bank interest rates for home loan We will thus fully implement a corporate tax cut,” said the prime minister.

Yıldırım added that the value added tax (VAT) for construction investments would be re-funded for 2017 as an additional resource for construction projects.

In addition, the premier also said the Turkish Employment Agency (İŞKUR) would provide vocational training to 500,000 people in 2017 in the private sector as another 100,000 would continue to work for benefit of society program, mainly in the country’s eastern and southeastern regions.

Yıldırım also noted that the capital base of Eximbank, which is at around $3.7 billion, will be increased dramatically next year to further support exporters.

“We will also put zero interest rates on foreign exchange loans which are offered to Turkish construction companies operating abroad for their Turkey-made goods and services acquisitions. Td bank interest rates mortgage They will not be charged any interest rate for the loans, which are used by these companies for locally made goods and services to be used abroad. Bank interest rates on deposits These costs will be covered by Exim Bank as well,” he said.

“When we are asking something from our people, what are we going to do? For the state, 2017 will be a considerable year of savings. Bank of america interest rates We will cut costs dramatically. Bank interest rates for fixed deposits in india For in-stance, we will not conduct spending on new buildings or cars if it is not a must … We will also cut travel costs. Union bank of india interest rates 2013 As the representatives of the state, we must do what is needed when asking our citizens to convert their foreign currencies into lira,” he said.

“Besides, some public institutions have already started to convert their foreign exchange assets into liras. Fixed deposit interest rates in indian bank Thus, we have recently created over $10 billion of assets in liras. Bank loan interest rates in sri lanka This has also enabled us to pump more forex into the markets as well,” added Yıldırım.

Regarding the reform agenda, Yıldırım said the basics of the reform agenda were to limit the state’s definite involvement in the economy, enabling citizens to move at will and re-duce bureaucratic burdens for them.

“There are two areas that we cannot abandon: justice and security. Bank loan interest rates for business These two key areas will be in the hands of the state and will not be a part of any reform move. Bank fd interest rates comparison We will take the required measures to let them function properly and quickly within themselves,” he said.

Top economy ministers and officials held the meeting late on Dec. Rates of interest offered by different bank 2 amid sharp decreases in the value of the Turkish Lira, which has been closely followed by the markets. Bank interest rates in india for senior citizens The lira has recently been one of the worst hit emerging currencies due to several global and domestic developments, especially since the U.S. Standard bank interest rates fixed deposits presidential elections.

All materials are found on open spaces of a network the Internet as freely extended and laid out exclusively in the fact-finding purposes. If you are what lawful legal owner or a product and against its placing on the given site, inform us and we will immediately remove the given material. The administration of a site does not bear responsibility for actions of the visitors breaking copyrights. abuzesite@bigmir.net