Cost Reduction and Limit Increase in Rediscount Credits for Exporters
In order to increase competition in global markets, the cost rate of rediscount credits was lowered while significant increases were made in daily limits.
To enhance exporters' financing opportunities and support their competitive power, the cost of rediscount credits has been reduced, daily limits have been increased, and short- and long-term rediscount credits have been included in the scope of exemptions.
Reduction in Financing Costs
Stating that exporters' competitive power in global markets is directly related to export financing opportunities, it was announced that measures aimed at improving financing opportunities continue to be implemented in this direction. With the recent changes, the financing cost of rediscount credits was reduced to 23.95 percent.
Rise in Daily Credit Limits
The daily limit of rediscount credits, which was previously 300 million liras, was raised to 5 billion liras, and the daily limit per company was raised to 60 million liras. When the financing cost was 23.95 percent, the interest burden with 5 percent BSMV (Banking and Insurance Transactions Tax) rose to approximately 25.2 percent, and this exemption provided a cost advantage of millions of liras.
Evaluations by Minister Bolat
Trade Minister Ömer Bolat also stated in his social media post that an important opportunity has been implemented that will increase exporters' global competitive power and lower financing costs. He emphasized that all short- and long-term rediscount credits have been included in the exemption scope.
Tax Burden and Easy Access
Minister Bolat noted that through this, the tax burden on exporters has been reduced, their access to financing has been facilitated, and it has contributed to their access to financing at more affordable costs.