[...] latest package provides financing to help importers such as manufacturers, who have seen costs surge during a lira sell-off. Speaking to her pa
[…] latest package provides financing to help importers such as manufacturers, who have seen costs surge during a lira sell-off.
Speaking to her parliamentary group, the centre-right Good Party leader Meral Akşener said the economic situation in Turkey contradicted with the name of the package.
â€œHe named it â€˜national industryâ€™ as if they had opened a single factory until today. He is not aware that we do not have an advanced or a productive industry left,â€ she said.
Turkeyâ€™s economy slumped into a recession in the second half of last year after […] has lost about 13 percent of its value since January.
â€œOur citizens have lost their confidence in their own currency, foreign exchange deposits increased to 54 percent 44 percent,â€ Akşener said referring to foreign exchange deposits and funds, including precious metals, held by Turkish individuals and institutions hitting a high of $182 billion on May 17.
Akşener said Turkeyâ€™s credit risk premium had risen by 68 percent, while the budget deficit had increased to 103 billion lira ($17 billion) 30.3 billion lira ($5 billion).