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Government Plans to Increase Civil Servant Salaries

TURKEY
  • The Central Bank provided the financing needed for exports to hit a record high in August with rediscount credits, Dunya report. According to the information obtained from banking sources, the number of companies using rediscount credits tripled after the Central Bank increased banks’ daily limits.
  • The Minister of Labour and Social Security said the government plans to increase civil servant salaries in-line with inflation. “A 42% increase is anticipated for public personnel in January 2024”, he said.
  • Turkey’s home sales rose 16.7% y/y in July following a 44.4% drop in June, according to the Turkish Statistical Institute. Foreign nationals bought 2,801 homes in July, down 28.9% y/y, while mortgage sales were down 24.1%.
  • The Treasury & Finance Ministry will publish government budget balance data for July at 0900BST/1100 local time.
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