New support mechanisms announced to boost economic activity
Prime Minister Binali Yıldırım announced at a meeting of the Economic Coordination Board on December 8 new measures to support economic activity and enhance financing opportunities for SMEs.
The new support mechanisms see the Credit Guarantee Fund increasing its guarantee coverage for SMEs to TRY 250 billion, KOSGEB ensuring TRY 50,000 loans for SMEs with three-year maturity and a grace period of one year, and the postponing of SSI premium payments paid by private sector employers.
Prime Minister Yıldırım also revealed some measures to promote exports; among these would be an increase in Eximbank’s capital.
The decisions taken at the Economic Coordination Board mainly focused on utilizing new support mechanisms for the real economy, implementing reforms, and introducing new opportunities to increase employment in Turkey.