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11 Apr 2019, Petia Krasteva, EMIS Editor

Turkish Finance Minister outlines 2019 measures to stabilise economy

Turkish Treasury and finance Minister Berat Albayrak outlined Wednesday the series of measures that the government aims to implement in 2019 is order to stabilize rattled economy, CEEMarketWatch reports. The measures are the start of 4.5.-year economic reform agenda that the cabinet wants to implement until the end of its election term.

The core of the programme includes capitalization of the banking sector, special measures to address non-performing loans in energy and construction sectors and changes to the private pensions system. The list also contains special measures to fight high food inflation including establishing credit cooperatives for greenhouses, and amendments to wholesale and retail food market. Albayrak said the government will aim to prioritise export and high value-added manufacturing sectors. He also indicated readiness to gradually cut corporate tax rate while committing to tighten fiscal discipline, CEEMarketWatch added.

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