Finance Ministry

Turkey to unveil economic measures against coronavirus

Turkey will unveil measures to reduce the economic impact of the coronavirus outbreak this week, the treasury and finance minister said on March 16.

"President Recep Tayyip Erdoğan will announce steps to be taken this week," Berat Albayrak said on Twitter.

Albayrak stressed that the country prioritized being prepared for the effects of coronavirus outbreak on the economy.

Planned measures hit by virus

As the coronavirus continues to spread in Greece, the negative consequences have also generated worries about the course of revenues, as dozens of businesses are suspending operations every day and consumption appears to shrinking in certain economic sectors.

Resigning PM-designate Citu says party chair should also be PM to be successful in elections

Resigning PM-designate Florin Citu said Thursday he decided to resign as prime minister-designate because he "strongly believes" that in order to be successful in the elections, the national chairman of the party must also be the prime minister, adding that the current context in which Romania finds itself was taken into consideration when deciding.

Treasury borrows $1.4 bln from domestic markets

Turkey's Treasury and Finance Ministry on March 12 issued Euro-dominated government debt securities and lease certificates to borrow €1.26 billion ($1.41 billion) from domestic markets.

Both government debt securities (€1.005 billion) and lease certificates (€255 million) have 0.75 percent coupon rate semiannually.

Back to drawing board for budget

The coronavirus epidemic is likely to infect the budget and the tax breaks planned for this year concerning the Single Property Tax (ENFIA) and the solidarity levy.

The government appears to be putting aside its plans for the further reduction of ENFIA and the gradual abolition of the solidarity levy for now due to the consequences of the virus on the economy.

Turkish Treasury borrows $1.7 bln from domestic markets

The Turkish Treasury borrowed 10.6 billion Turkish liras ($1.72 billion) from domestic markets this week, the Treasury and Finance Ministry announced on March 10.

Some 2.88 billion Turkish liras ($467.5 million) in five-year CPI indexed Treasury bills - reopen, semiannually, second issue - were sold in an auction on March 10.