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Turkey to Halt Exports of Some Medicines to Ease Shortages

TURKEY
  • Deputy Minister of Treasury and Finance Gurcan is said to have called automotive sector officials to a meeting and told them “to be careful about price hikes until new economic measures are announced on February 17”, Cumhuriyet report.
  • Turkey will halt the export of some medicines, adding to efforts to ease shortages, Bloomberg report. “Until the medicine shortage is resolved, we’ve suspended the exports of medicines with limited supply,” Turkey’s Health Minister said in a tweet on Saturday. The moves are the latest to deal with a supply crisis that’s led to shortages of drugs at pharmacies. Last week, Turkey announced it’s raising the fixed euro rate used to price medical products by 36.77%.
  • Treasury & Finance Minister Nebati and President Erdogan will speak in an event on women’s labour this afternoon in Istanbul. There are no major economic releases schedules today, with the CBRT’s rate decision to take focus this week. Rates are expected to be held on Wednesday as the central bank ends its cutting cycle.
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