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Exports to Europe via Truck Falling Sharply, According to Border Crossing Data

TURKEY
  • Dunya write on Nebati’s SME support package posted late yesterday, detailing that the total quantity of loan guarantees extended by KGF has totalled TRY 582bln so far, meaning the finance ministry are left with TRY 418bln worth pre-approved credit guarantees for future package announcements.
  • Dunya also write about the less impressive take up of the government’s currency-protected deposit account earmarked specifically for Turkish non-residents (i.e. Turkish citizens living overseas). The pieces writes that the so-called YUVAM accounts only accounted for a 0.5% increase of non-residents TL-denominated deposits.
  • As a real-time indicator of economic performance, Dunya write that Kapıkule, the most important exit gate for exports to the EU, has seen the frequency of commercial vehicles leaving Turkey decrease. The pieces writes that two months ago, 9,300 trucks per day cross,ed the border (accounting for 70% of Turkish exports to Europe by value), which has now dropped to 8,500 per day.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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