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Bill Submitted to Liberalise Natgas Imports, Share of TRY in Deposits Reaches 57.8%

TURKEY
  • Turkey’s ruling AK Party has submitted a bill to parliament to liberalise natural gas imports, Bloomberg report. The bill plans to create a “competitive market structure that works in line with objective rules”. Imports of natgas by state-run Botas and private sector companies plan to be liberalised, in line with Turkey’s goal of becoming a natural gas trade centre.
  • Turkey will hold a trilateral meeting with Sweden and Finland on March 9 in Brussels to discuss the commitments of the Nordic countries for their bid to join NATO, Hurriyet report. Turkey postponed the previously planned meeting on January 24 after President Erdogan lashed out at Sweden following the burning of the Quran outside Ankara’s Stockholm Embassy.
  • Dunya report that the share of TRY in total deposits in the Turkish banking system reached 57.8% as of end-February, up from 36% at the end of 2021. The piece writes that these metrics show the target of 60% liraization for H1 this year has almost been achieved and notes that funds under the government's currency-protected deposit scheme have risen to TRY 1.6trl.
  • President Erdogan will meet his ally, MHP leader Devlet Bahceli, following the main opposition alliance announcing its candidate for president. There are no major economic releases scheduled today.
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