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Industry Urges Authorities to Focus on Access to Finance

TURKEY
  • Dunya cite the President of the business union Tusiad as calling for the aims of current low interest rate policy adopted by the government and the central bank to be re-evaluated due to ongoing issues with access to finance. This may again factor into the thinking at the CBRT, who continue to target the commercial loan – bank rate spread in setting of regulations.
  • Planning for 2023 elections continues, with Hurriyet reporting that the AKP are considering three concurrent votes for 2023 including a separate ballot for the President, for MPs as well as a referendum on “new constitutional articles” for elections.
  • The unemployment rate inched higher in September, rising to 10.1% from a revised 9.8% - which marked a series low for the measure going back to Jan 2020.
  • A Parliamentary commission are set to discuss the Treasury’s 2023 budget plans later today, ahead of which the finance minister Nebati has detailed that the FX-protected deposit payment scheme has reached TRY 91.6bln. The scheme was extended this week officially to end-2023.
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  • Dunya cite the President of the business union Tusiad as calling for the aims of current low interest rate policy adopted by the government and the central bank to be re-evaluated due to ongoing issues with access to finance. This may again factor into the thinking at the CBRT, who continue to target the commercial loan – bank rate spread in setting of regulations.
  • Planning for 2023 elections continues, with Hurriyet reporting that the AKP are considering three concurrent votes for 2023 including a separate ballot for the President, for MPs as well as a referendum on “new constitutional articles” for elections.
  • The unemployment rate inched higher in September, rising to 10.1% from a revised 9.8% - which marked a series low for the measure going back to Jan 2020.
  • A Parliamentary commission are set to discuss the Treasury’s 2023 budget plans later today, ahead of which the finance minister Nebati has detailed that the FX-protected deposit payment scheme has reached TRY 91.6bln. The scheme was extended this week officially to end-2023.