Turkey – Before the summer the “fruits” of the new economic model


Its economic model Turkey will show its positive results and rapid transformation of the economy before next summer, said the country’s Finance Minister Nuredin Nebati.

“The model is based on the high level of exports, the reduction of the current account deficit and the prosperity that is reflected in society as a whole,” he told NTV.

“This is a special model that will attract direct investment,” he added, noting that Turkey received $ 12.7 billion in direct investment in the first 11 months of 2021.

The Ministry of Finance and Finance announced a new measure on Tuesday, in which Turkey will compensate pound depositors for foreign exchange fluctuations, while encouraging citizens to move to Turkish lira-based assets.

Under the incentives, if the yield remains below the exchange rate difference between the account opening and its expiration dates, despite the interest earned, the institution will reimburse the depositor.

The new Turkish pound deposit tool with foreign exchange protection will be available for people who have a three-month, six, nine or 12 month pound deposit account.

The Turkish lira has rebounded sharply over the past three days as President Recep Tayyip Erdogan announced new economic alternatives to save the people late Monday night.

The dollar fell against the Turkish pound from 18.36 on Monday to 10.23 on Thursday – down 44.3%, according to official figures.


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