Erdogan Promises Economic Reforms, But Can He Deliver?

Erdogan Reform Promises/Key points

• Live monitoring of food prices, 'early warning system', price stability committee
• State-led price hikes in line with targeted inflation, instead of actual
• Determination to reduce budget deficit to 3.5% of GDP this year
• Improve transparency in public tenders, and increased borrowing in TRY
• some extra-budgetary funds will be abolished/funds transferred to main budget to improve transparency - "+ve"
• improve banks' asset quality, establish asset funds to deal with problem debt
• 850k small tradesmen will be exempt from income tax - (vote winner)
• Widen scope of credit guarantee fund (IMF had called on Turkey to narrow it)
• TRY 100k loans with a 6-month repayment waiver for businesses who employ more workers
• Statistics office to be autonomous
• Reforms to be evaluated regularly
• No mention of CBRT or Albayrak