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AKP Eyes Export Quotas to Tame Inflation, Contradicting Export-Focused Growth Strategy

TURKEY

LOCAL NEWS

  • After championing the export market for months, the AKP is now claiming that food exports are driving inflation and are threatening to impose export limits on basic food items.
    • This directly contradicts the prior goal of an export-oriented growth strategy
  • Trade Minister Mus speaks today (1100GMT) following meetings with exporters regrading the implementation of rules ordering the conversion of 25% of exporter revenues to lira.
    • Prior to the meeting, exporters had been concerned that this would cause a substantial drag on profitability

Data:

  • 1100GMT: Erdogan speaks in Ankara* 1430GMT: Dec Cash budget Balance, 30.3bn prior
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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