Nureddin Nebati

Mortgages with lower rates and longer maturities will be offered to middle income Turks looking to buy new housing, Turkish Finance Minister Nureddin Nebati said on Wednesday.

Nebati told a news conference the mortgage loans with amount up to 5 million lira ($266,823), will have up to 15 years maturity and rates will start from 0.69%.

The government is preparing to unveil the details of a housing project for middle-income groups.

The project will be announced on Jan. 4 at a press event in Ankara to be attended by Treasury and Finance Minister Nureddin Nebati and Environment Minister Murat Kurum, according to the statement from the Environment and Climate Change Ministry.

Türkiye's annual inflation slowed sharply from 84.4 percent in November 2022 to 64.3 percent in December after peaking to 85.5 percent in October last year, data from the Turkish Statistical Institute (TÜİK) have shown.

The monthly increase in consumer prices also eased from 2.88 percent in November to 1.18 percent.

The Financial Stability Committee discussed steps to be taken regarding the wider use of the Turkish payments system TROY, according to a statement released after the committee's meeting. The committee convened on Oct. 27, chaired by Treasury and Finance Minister Nureddin Nebati.

Türkiye's leading e-commerce platform Trendyol has signed a cooperation agreement with Saudi Arabian retail company Fawaz Alhokair Group.

Treasury and Finance Minister Nureddin Nebati, accompanied by a delegation, is attending the sixth edition of the Future Investment Initiative (FII) in Saudi Arabia.

The three-day FII, which began yesterday, will continue until Oct. 27 in the Saudi capital of Riyadh.

The government's Treasury-supported loan package scheme for tradesmen and craftsmen has taken effect following a presidential decree, Treasury and Finance Minister Nureddin Nebati has announced.

Treasury and Finance Minister Nureddin Nebati has held a meeting with the senior executives of Goldman Sachs in Washington, D.C.

The government will extend the FX-protected deposit account scheme by one year until Dec. 31, 2023, Treasury and Finance Minister Nureddin Nebati has said.

All economic policy instruments will be used in the most effective way in the fight against inflation, Treasury and Finance Minister Nureddin Nebati has said.

"We will beat inflation permanently," said Nebati, speaking at the Uludağ Economy Summit 2022 in the northeastern province of Sakarya on Oct. 7.