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Government Borrowing Limit to Be Raised to TRY2.2trln

TURKEY
  • Turkey will raise the government borrowing limit to TRY2.2trln from current TRY660.9bln liras under new potential legislation, according to calculation in government impact analysis of parliamentary bill seen by Bloomberg.
  • Proceeds to the 2023 budget from corporate tax increase seen at TRY80bln.
  • Meanwhile, a new bill on deposits may cost the central bank an additional TRY100bln, according to Bloomberg calculations.

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