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TURKEY: Administered Prices to Take CBRT Targets into Account

TURKEY
BulletEM BulletEmerging Market News
  • Industry Minister Kacir outlined plans to support SMEs across various sectors with a TRY 2,500 grant per employee if they do not lay off any workers. The payment program would begin in February.
  • Treasury Secretary Simsek stated that administered price increases are to take into account the CBRT's 2025 inflation target, meaning special consumption tax adjustments on fuel and tobacco will not endanger the inflation target.
  • Simsek also hinted at new steps to further discourage the use of the FX-protected deposits program, adding that the government will not support consumer loans.
  • December economic confidence data out this morning came in at 98.8 (Prev. 97.1), the highest reading since April.
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  • Industry Minister Kacir outlined plans to support SMEs across various sectors with a TRY 2,500 grant per employee if they do not lay off any workers. The payment program would begin in February.
  • Treasury Secretary Simsek stated that administered price increases are to take into account the CBRT's 2025 inflation target, meaning special consumption tax adjustments on fuel and tobacco will not endanger the inflation target.
  • Simsek also hinted at new steps to further discourage the use of the FX-protected deposits program, adding that the government will not support consumer loans.
  • December economic confidence data out this morning came in at 98.8 (Prev. 97.1), the highest reading since April.