New Supports Announced Following Economic Coordination Board Meeting
At the meeting chaired by Vice President Cevdet Yılmaz, preparations for the Medium-Term Program (MTP) covering the 2027-2029 period were discussed, and new financing supports for the manufacturing, exporting, and tourism sectors were announced.
Gathering at the Presidential Complex under the chairmanship of Vice President Cevdet Yılmaz, the Economic Coordination Council discussed the latest situation in macroeconomic indicators, along with new financing supports and program preparations for the upcoming period.
Details of the Council Meeting
The Economic Coordination Council came together at the Presidential Complex under the chairmanship of Vice President Cevdet Yılmaz. Relevant ministers, bureaucrats, and agency heads participated in this critical meeting, which lasted approximately 4 hours.
Macroeconomic Indicators
In a written statement issued after the meeting, it was emphasized that a significant improvement has been achieved in macroeconomic indicators thanks to the implemented program. It was stated that the economy has acquired a more resilient structure and that the unemployment rate has declined to low levels.
Fiscal Discipline and Current Account Balance
While pointing out that the high course of commodity prices creates pressure on the current account balance, it was noted that the ratio of the current account deficit to national income remains at sustainable levels. It was recorded that fiscal discipline is maintained and the budget deficit progresses in line with program targets.
Manufacturing and Export Supports
Important steps were taken to facilitate access to finance for producers and exporters. The premium support provided per employee in certain manufacturing industry sectors was increased to 3,500 liras, and the daily rediscount credit limit was raised to 5 billion liras.
New Credit and Financing Opportunities
It was announced that the limit of the Investment Commitment Advance Credit Program will be raised to 750 billion liras, providing 250 billion liras in new credit support to the manufacturing industry. Additionally, to limit the impact of geopolitical developments on the tourism sector, an additional 60 billion liras of financing will be provided with Treasury backing.
Medium-Term Program Preparations
It was stated that the works on the Medium-Term Program covering the 2027-2029 period, which constituted one of the main agenda items of the meeting, are being carried out with a transparent and participatory approach. The MTP, which will chart the course for the next three years, is expected to be announced at the beginning of September.