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Nebati says Turkey On Track

TURKEY
  • Finance minister Nebati spoke at a conference yesterday claiming that Turkey is on the right track to achieve its employment, export and growth goals, adding that “we are going strong”, according to Hurriyet.
  • Reports yesterday confirmed expectations that the FX-protected TRY savings accounts will be extended into end-2023, likely in an attempt to curb FX volatility headed into next year’s elections. Latest data suggests total savings held in the accounts amount to TRY 1.4trl.
  • Dunya cite the head of the Turkish Exporters Assembly as estimating that the fall to parity in EUR/USD has cost Turkish exporters as much as USD 1.8bln in September.
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  • Finance minister Nebati spoke at a conference yesterday claiming that Turkey is on the right track to achieve its employment, export and growth goals, adding that “we are going strong”, according to Hurriyet.
  • Reports yesterday confirmed expectations that the FX-protected TRY savings accounts will be extended into end-2023, likely in an attempt to curb FX volatility headed into next year’s elections. Latest data suggests total savings held in the accounts amount to TRY 1.4trl.
  • Dunya cite the head of the Turkish Exporters Assembly as estimating that the fall to parity in EUR/USD has cost Turkish exporters as much as USD 1.8bln in September.