Free Trial

Turkey Budget Hit by Extra Payment to Contractors, Pay Rises

TURKEY
  • Turkey’s government will pay additional 10.5 billion liras ($759m) to contractor companies that had won public tenders to compensate weakening lira, according to government analysis seen by Bloomberg
  • Increase in civil servants’ pay rise will cost 17.2 billion liras, same analysis shows
  • Government sees 138b liras of increase in total portfolio of private pension program as government’s contribution is raised to 30% from 25%
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.