Erdogan Urges Borrowing from State Banks, Praises FX-Linked Deposit Scheme

LOCAL NEWS

• Erdogan urges citizens to borrow from state banks, noting that recent lira stability supports an optimistic domestic outlook as FX-linked deposits rise to 203bn liras.
  • Erdogan also noted that gas flows from Iran would resume in 10-15 days as the local reserves run dry. Says Until natural gas flow normalizes, Turkish industries should act “with control.”
  • In a continuation of the regional relations push, he also said Israeli President Herzog may visit Turkey in Feb alongside his visit to the UAE on 14 Feb
• Opposition leader Kilicdaroglu accuses pro-govt company of corruption over profiting 3.19bn lira from a single unlawful public tender on April 3, 2018 aimed at building a railway between Bursa & Bandirma.
  • The company was unable to fulfil the job, and the tender was repeated instead of being scrapped and later offered to Erdogan’s favoured 5 companies, with Bayburt Group winning the tender, despite not having the best offer

Data/Events:

• 0730GMT: CBRT Gov Kavcioglu announces first inflation report for 2022
• 1100GMT: CBRT Releases Minutes of the Jan 20 Meeting