Finance Ministry

Turkish Treasury to repay over $12.6B debt in May-July

The Turkish Treasury will repay debts worth 88.3 billion Turkish liras (some $12.64 billion) in the May-July period, the Treasury and Finance Ministry announced on April 30. 

The Treasury will repay 36 billion Turkish liras ($5.15 billion) in external debts, including 6.3 billion Turkish liras ($901.7 million) in interest payments.

Over 450,000 apply to online software training program

More than 450,000 people applied to the Turkish Treasury and Finance Ministry's project to train software developers, according to a statement by the Finance Minister Berat Albayrak on April 30.
"The youth has shown a great favor in our '1 Million Software Developers' project. The number of applicants reached 451,000 in a week time," he said on his Twitter account.

Furloughs to be extended until May 31

A legislative act is to provide for the extension of the suspension of labor contracts for companies harmed by the coronavirus containment measures until May 31. Thursday would mark the end of the first phase of the measure, which concerned enterprises that were ordered by the government to close on March 13.

Corporate tax deposit to be reduced for this year

The Finance Ministry is considering the reduction of the tax deposit for 2020, which amounts to 100 percent of the corporate tax due, while also taking into account the course of enterprises in the second half of the year.
As a result, the government is practically planning to reduce the tax deposit for tax statements whose submission process has already begun.

PSD to submit two simple motions against Agriculture, Finance ministers

The interim chair of the Social Democratic Party (PSD), Marcel Ciolacu, stated on Tuesday that the MPs of the party he runs will submit two simple motions, one in the Senate, one in the Chamber of Deputies, against the Finance and the Agriculture ministers. "We decided to ask the Agriculture Minister to answer publicly to a few questions.

State plans to collect more from T-bills

The Public Debt Management Agency (PDMA) will this week attempt to raise the sum of its treasury bill issues, a plan which forms part of the Finance Ministry's new strategy to replenish the cash the government is drawing from its safety cushion, so as to delay or even avoid taking recourse to the European Stability Mechanism's credit line altogether.

Turkish Treasury borrows $1.5B through auctions

The Turkish Treasury borrowed 11 billion Turkish liras (nearly $1.5 billion) from domestic markets on April 27, said an official statement.

The Treasury and Finance Ministry announced that some 6 billion Turkish liras (about $858 million) five-month zero coupon treasury bill- re-open, 4th issuance- was sold in the first auction.

German model to protect jobs

The government is pondering different schemes to tackle reduced employment that would see it subsidizing part of lost salaries or social security contributions, once the country enters the stage of a gradual return to a new kind of normalcy.

Softening impact on landlords

The Finance Ministry is considering three scenarios for easing the blow to property owners who miss out on 40 percent of their rental revenues for March, April and possibly May, the most likely providing for those months' rents to be exempt from income tax.